First, we want to congratulate you for coming to the end of your long battle for justice after your work-related injury. We know this ordeal has likely put a heavy financial strain on you and your family. We’re happy that you’re finally having your medical bills covered with your settlement money. Not only do you deserve it, but your family deserves it too.
Still, we also know you likely had to rely on credit cards and personal loans to cover your expenses while you were injured, waiting on the outcome of your case. If you’re swamped with the credit card and loan payments you have to pay after your case is finished, bankruptcy may be the right plan for you.
To help you make a decision, here are a few things to consider:
Two Things to Consider When Deciding Whether to File for Bankruptcy
- Your credit card bills, repossessed vehicle debt, and other assorted debts can be discharged in a bankruptcy.
Although each case is different, you probably have had to rely on credit cards and personal loans to keep you afloat while you wait for your worker’s compensation case to resolve. You may have even had to give up your vehicle to tighten up your budget. A bankruptcy will help you get rid of these debts, allowing you to move on with your life and start a new chapter.
- Your settlement award is exempt in the bankruptcy.
If you put the money from your worker’s comp case into a separate bank account that doesn’t have any money from other sources, we (Steffens Law attorneys) can protect the money you get from the worker’s comp case.
We’re glad that you took a stand and demanded the compensation you deserve for your work-related injury. But if the loans and credit cards you had to take out during your waiting period prove too much to repay, we’re here to help. Filing a bankruptcy might sound scary, but it is really a protective measure designed for people in situations just like yours.
Contact Steffens Law if You're Considering Bankruptcy As Your Workers' Comp Claim Winds Down
If you’re wondering if bankruptcy is right for you as your workers' comp claim is about to settle, call Steffens Law Office today at (308) 872-8327. We’re eager to answer any questions you have.