Brett,

I have roughly $75k in unsecured credit card debt. Two of the credit
card companies already have default judgements, and I have just
received a $15k settlement from one of (three)personal injury cases I
have pending. Yes I have three cases, long story...

I still have two remaining cases, one of which is going to trial. I
read somewhere that compensation from injury, personal injury
settlements, etc. are exempt under Florida bankruptcy law.

I just negotiated a settlement(66 cents on the $) with one of the
creditors who had a default judgement, and was threatening to garnish,
seize accounts, etc. But I then realized that these funds may not be
"seizable". and CH 13 is a viable option for me.

What complicates things further, is I am self employed, and own the
small business (S-corp). My three questions are these:

Under Chapter 13 is my business and/or it's stock included or at risk,
because it is the only source of income I have to pay bills (child
support, CH 13 repayment plan, etc.)

....and two, are these FUTURE proceeds that may come from these two
remaining personal injury cases exempt, and if so, in what way (within
a CH13 repayment plan).

Lastly, what can I do (perhaps pay attorney's fees) with this $15k I
have just received to put it to best use. Frankly I deposited the
check and then cashed a couple of checks and have it in cash..

I am certain I qualify for a CH 13, I own a home, and business which
provides me with adequate income. FYI, The reason I was unable to pay
on these debts was a direct result of these personal injuries...

I appreciate anyones accurate input on this...

Tim

> Under Chapter 13 is my business and/or it's stock included or at risk, because it is the only source of income I have to pay bills (child support, CH 13 repayment plan, etc.)

At risk, no, because in a Chapter 13 case, you keep everything you have. It
will have to be valued, however, and its value is considered an asset. FWIW,
most Sub-S stock is virtually worthless, except for the assets and ARs the
corporation has.
...and two, are these FUTURE proceeds that may come from these two remaining personal injury cases exempt, and if so, in what way (within a CH13 repayment plan).

I don't know Florida exemption law well enough to be able to answer.
Lastly, what can I do (perhaps pay attorney's fees) with this $15k I have just received to put it to best use. Frankly I deposited the check and then cashed a couple of checks and have it in cash..

You should check with your bankruptcy attorney to find out how you should
proceed. He or she can tell you how to pre-plan things so that you won't run
into problems.

--

Brett

************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@brettweiss.com *
* http://www.brettweiss.com *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************

The Small Print: This response is for discussion purposes only. It isn't
meant to be legal advice and you shouldn't treat it as such. If you want
legal advice, speak with a local lawyer familiar with your state's laws who
can review *all* of the facts and the law applicable to your situation.
************************************************** ***************

"T. Gar" <any0324@aol.com> wrote in message
news:8b7527c2.0401240811.651cd50c@posting.google.c om... Brett, I have roughly $75k in unsecured credit card debt. Two of the credit card companies already have default judgements, and I have just received a $15k settlement from one of (three)personal injury cases I have pending. Yes I have three cases, long story... I still have two remaining cases, one of which is going to trial. I read somewhere that compensation from injury, personal injury settlements, etc. are exempt under Florida bankruptcy law. I just negotiated a settlement(66 cents on the $) with one of the creditors who had a default judgement, and was threatening to garnish, seize accounts, etc. But I then realized that these funds may not be "seizable". and CH 13 is a viable option for me. What complicates things further, is I am self employed, and own the small business (S-corp). My three questions are these: Under Chapter 13 is my business and/or it's stock included or at risk, because it is the only source of income I have to pay bills (child support, CH 13 repayment plan, etc.) ...and two, are these FUTURE proceeds that may come from these two remaining personal injury cases exempt, and if so, in what way (within a CH13 repayment plan). Lastly, what can I do (perhaps pay attorney's fees) with this $15k I have just received to put it to best use. Frankly I deposited the check and then cashed a couple of checks and have it in cash.. I am certain I qualify for a CH 13, I own a home, and business which provides me with adequate income. FYI, The reason I was unable to pay on these debts was a direct result of these personal injuries... I appreciate anyones accurate input on this... Tim