A Implications of a Pending Potential NJ Lawsuit on Bankruptcy Case can have ramifications for a pending lawsuit. For instance, if you filed for Chapter 7 bankruptcy and were hit with a lawsuit, you may be unable to resume your bankruptcy claim. However, you can argue to the bankruptcy court that an exclusion of claims provision should bar the lawsuit. If this is the case, you must avoid saying one thing to the bankruptcy court and another to the other party.
Can I Keep Money I Receive From a Lawsuit When
Moreover, you must be aware of your pending contracts and deposits with the mortgage holder. A bankruptcy filing could be an issue if a company fails to pay its bills. If you can, you should make sure that the lender has notice of the contracts and deposits.
Another potential complication for Debtor is that the landlord, Parker, has filed a complaint to evict Debtor in the Superior Court of New Jersey (Special Civil Part Gloucester County). The Debtor did not request stay relief prior to filing in the bankruptcy court. As a result, she filed a motion for stay relief in this Court. Parker stated that she was not familiar with the Bankruptcy Code and did not file it prior to filing the complaint. She mailed this motion on the same day that she filed the eviction complaint.
You need to disclose this right to sue in your bankruptcy petition. While this right does not guarantee you money, it is a valuable asset that you must disclose to the bankruptcy court. If you fail to disclose this asset, you risk losing your lawsuit. However, you may be able to keep the proceeds of your lawsuit if you cooperate with your bankruptcy trustee.