Settlement from ICBC from an accident
Do I have to give up any money paid to me by ICBC if I declare bankruptcy? The settlement will be paid out in categories such as pain and suffering, future medical costs, wage loss etc. Are any parts of a settlement from ICBC safe from seizure when going bankrupt? The accident I will receive the settlement from happened before going bankrupt.
The bankruptcy estate’s right to receive insurance settlements receivable, outstanding as at the date of bankruptcy, is not extinguished by a person’s discharge from bankruptcy.
You may have the right to receive proceeds of “pain and suffering”.
You should check with your lawyer so he can explain your rights and obligations.
– Earl Sands, Trustee