In part two of my podcast series with Matt Bracy of Settlement Capital and Attorney Jeffery Hartley we go into greater depth about the issues involved in handling structured settlement annuities if you or your client has filed for Chapter 7 or Chapter 13 bankruptcy. As most settlement professionals know, and many trial lawyers are finding out, there is a significant percentage of structured settlements written where the claimant or their estate end up involved in bankruptcy due to medical bills, poor financial management, loss of jobs and all the other circumstances that push people to that end.
One of the least discussed issues in the structured settlement arena is "what to do when you have an annuity and must file for bankruptcy" and this podcast with these two national experts helps get you started on what your options are.
Part two reviews the following issues:
1. Differences between chapter 7 and chapter 13.
2. If settlement payments are exempt from creditors.
3. Whether federal or state law applies to the case and circumstances
4. Can a court compel your client to sell or factor their structure.
5. How to factor an annuity if you or an estate you are handling is in bankruptcy.
6. Can you sell or factor an annuity with out court permission inside a bankruptcy proceeding.
All of these items and others are covered in both podcasts. Make sure you click here to listen or go to our Yahoo or Itunes sites and listen in their as well.