I have been asked these questions by acquaintances..and I hope I can get
some answers from you experienced persons who post in this group..
1) One is in the process of filing a Chapter 7 Bk(has already retained
attorney)..However,this person is also
thinking of applying for US Citizenship in the near future
(She has been a legal resident of US for almost 40 years)
She wants to know if having a bankruptcy on record can
affect her chances of obtaining US citizenship and in what way.
2)Another is also thinking of filing a Chapter 7...She is also waiting to
receive a settlement from an insurance company for an accident that was
not her fault 3 years ago..However nothing is still secure as to if/when
she will
eventually get this settlement.The question is..Would it be better to file
for Chapter 7 and get her release first and THEN receive the proceeds of the
settlement? It seems to me that it would be better to get the bankruptcy out
of the way before she receives any money from the settlement;because if she
gets the money first and files for'the bankruptcy afterward,that money would
be an asset that the
creditors will go after If she gets the money after the bankruptcy is filed
and done with..then the creditors can't
claim if as as asset after she receives her discharge from the Court.
Thank You In advance for any replies