I filed bankruptcy chapter 13 can I keep an award lawsuit settlement in Texas? Discrimination award settlement.

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I filed Chapter 13 about 30 days ago. I will have court meeting soon. I recently was awarded a discrimination lawsuit award letter. I did disclose the possibility to my attorney. I have been waiting since the year 2000. This is a class action USDA award, do I have to give the Trustee this money. I Have made Chapter 13 first payment . Should I withdraw the chapter 13 and pay my own bills. I have been out of work 10 months due to illness. Income from$6000 to $3400 disability. I will receive the award in 45-days from August 30th. I only filed due to health reasons

4 Attorney Answers

Best Answer
In a Chapter 13, you do not forfeit any assets that are not exempt, but you do have to pay the value of any nonexempt asset to your unsecured creditors under the plan. Your attorney should have advised you whether or not this suit was an exempt asset or not, but to help you, I am posting a description of the exemptions laws in all 50 states for you to review. When an asset isn't specifically listed as an available exemption, it usually means you must pay for the value of the asset in a Chapter 13 - called "liquidation value." Hope this perspective helps!
Best Answer
The good news is that you have the right to voluntarily dismiss your chapter 13 if that is what you decide to do. Whether or not you dismiss the case will depend on whether the law protects discrimination lawsuit proceeds. It also depends on how long it will take to collect the proceeds, how much the proceeds are, how much you owe to your creditors. No one is going to be able to answer your question unless they have a lot more facts. Your attorney does. Set up an appointment to meet with your attorney in their office. Next week. Good Luck!
Best Answer
You need to discuss this with the attorney you hired, there is no way to know the facts of your case online.
Best Answer
You need to go see your attorney. Such a question is too general in nature to be able to give any good advice. You must review your financials and property situation with your attorney.

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