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Bankruptcy - In New
York, Can I Bring a Lawsuit for my
Injuries and Keep all the Proceeds?
Tip!
Before filing bankruptcy, take a
good long hard look at your
finances. Get organized and begin
writing out a budget. Start with
your monthly income and deduct your
monthly household expenses.
Q: If I recently declared bankruptcy,
can I bring a lawsuit for my injuries
and then keep all the proceeds? My
injuries have nothing to do with my
bankrupcty, right?
A: Wrong. When you declare
bankruptcy, you are required by law to
list all your assets with the Court. If
you even suspect that you might have a
potential lawsuit (malpractice or
personal injury case) you must list that
as a potential asset. If you
inadvertantly neglect to put this
potential asset on your list, and you go
to an attorney (and don't tell him about
your bankruptcy) who then starts your
lawsuit, the defense has an absolute
right to get a Court order to dismiss
your case. (They will definitely learn
about your bankruptcy sooner or later.)
The reason is simple. When you declare
bankruptcy, your bankruptcy 'estate' is
no longer yours. A bankruptcy 'trustee'
(a Court appointed lawyer) supervises
how your assets are distributed - with
Court approval.
Once you have declared bankruptcy,
you are no longer legally capable of
starting a lawsuit in your own name. The
case must be started in the name of the
bankruptcy trustee who must then hire an
outside lawyer expereienced in
malpractice or personal injury to handle
your matter. If you are actually awarded
money, either by a settlement or
verdict, your attorney will receive a
fee, the bankrupcty trustee will receive
a fee, your creditors will be paid, and
you will receive the remaining monies
(in most cases) if there is any left to
be distributed.
Tip!
Fourth step is optional; you can
apply for a mortgage after
bankruptcy even with bankruptcy
discharged yesterday and just about
any time you want.
IF YOU HAVE DECLARED BANKRUPTCY
WITHIN 10 YEARS, YOU MUST LET YOUR
ATTORNEY KNOW THIS BEFORE YOU START ANY
LAWSUIT.
Attorney Oginski has been in practice
for over 16 years as a trial lawyer
practicing exclusively in the State of
New York. Having his own law firm, he is
able to provide the utmost in
personalized, individualized attention
to each and every client. In our office,
a client is not a file number. Client's
are always treated with the respect they
deserve and expect from a professional.
Mr. Oginski is always aware of every
aspect of a client's case from start to
finish.
Gerry represents injured people in
injury cases and medical malpractice
matters in Brooklyn, Queens, New York
City, the Bronx, Staten Island, Nassau
and Suffolk Counties. You can reach him
at
http://www.oginski-law.com, or
516-487-8207. All inquiries are free and
totally confidential.
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