Certain Property Needs to be Disclosed
In chapter 7 and chapter 13 bankruptcy, you are generally under the
obligation to notify the Bankruptcy Court and your bankruptcy trustee if you
acquire any of the following items within 180 days of the filing of your bankruptcy petition:
a. inheritances
b.
divorce property settlementsc. proceeds of life insurance
In such event, you
should advise your bankruptcy attorney at once so that he may properly advise you and prepare the proper schedules that need to be prepared and filed with the Bankruptcy Court. If you are in a Chapter 7 case, you may consider converting the case to Chapter 13.
Causes of Action - Including Personal Injury and Employment Cases
Causes of Action - Including Personal Injury and Employment Cases
In a Chapter 13 case, you should also file supplementary schedules in your bankruptcy case if you acquire cetain types of property, including actual or potential causes of action (ie. including personal injury and employment cases) that you acquire at any time after the bankruptcy case is filed. This is very important, as if it is not disclosed in a supplemental schedules, you may be barred from pursuing the cause of action ("judicial estoppel").