Should I File Bankruptcy After an Accident?

When a client is involved in a devastating accident we are sometimes asked do I need to file bankruptcy. Bankruptcy can be an attractive option in some circumstances but it’s something that needs to be considered very carefully. For example, when you file bankruptcy your claim will wind up belonging to the bankruptcy trustee usually and the settlement that’s paid on that claim will probably go to your creditors rather than to you. In addition, the bankruptcy court will set the value of your claim rather than the traditional jury trial process and there can be a significant difference. If you’re considering bankruptcy, you need to be sure that your personal injury attorney is working very closely with your bankruptcy attorney to ensure that you get the best result. Here at Roberts & Roberts if our clients need to file bankruptcy we will refer them to the appropriate Bankruptcy attorney. Fortunately, most of our clients don’t need to file bankruptcy.

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