Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - In New Jersey, how much of a personal injury lawsuit is exempt in a bankruptcy? - My husband received a lawsuit settlement in the amount of approximately $32,000. It was a slip & fall accident (the lawsuit is in his name only). he next day after getting the settlement check, there was a letter in the mail for a hearing for his wages to be garnished. (talk about timing) We can not afford for this to happen as I am very sick & can not work. I am currently waiting for Social Security Disability hearing. We have two small children as well. So we have decided to file for Bankruptcy. When we contacted his attorney from the accident He said there is no breakdown of the settlement in regards to how much was for pain & suffering, personal injury, future special damages, pecuniary, or past special damages. Is this a good thing? We are meeting with an Attorney tomorrow to discuss everything however, I was wondering if anyone knew how much of the lawsuit was exempt? Is the exempt amount doubled since we are filling together or does that not matter since the lawsuit is solely his? Has anyone been through a similar situation or can anyone tell me what to expect at this Garnishment Hearing?
I appreciate all your advise. Thanks a lot! -