Do you have a legal claim and wants to file bankruptcy?

This question is asked many times from us. When you file bankruptcy, all your potential legal claims become assets of the estate. You may know after filing of bankruptcy, an estate is created and a trustee is appointed who administer all of your assets. Even though you have an unsettled legal claims including your personal injury claims, they become part of the assets. If you don’t disclose, you may be judicially estopped from filing any lawsuit later in any civil court under the doctrine of judicial estoppel. This doctrine means that once you take a legal state, you are judicially estopped from changing your former position. Be careful and let your attorney know that you are entitled from any litigation on your behalf, or from your trust, or from your insurance company. Also, you can file or ask the trustee to abandon those claims in favor of the debtors, and you can sue or prosecute the person down the road

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