A car accident can be rife with complications, especially when you are facing financial difficulties that lead you to consider filing for bankruptcy. This can be an incredibly complicated process, which is why you may want to consult with a car accident lawyer. Working with a professional can help to provide you with the answers to the questions you may need:

How might a bankruptcy impact my ability to obtain a car accident settlement?

Whether your bankruptcy is related to your car accident or not, you may want to speak with a car accident lawyer to ensure that you do not do something that could have an impact on your case. In the wake of a car accident, you could be financially impacted. Because of this, you may struggle to cover your expenses. It’s important to be aware that when you file for bankruptcy, you may be able to obtain a settlement, however, your ability to retain your settlement may be impacted. Your settlement may be taken to help pay off your creditors. 

Will I be able to retain my settlement if I file for bankruptcy?

When considering bankruptcy, this is the first thing on the minds of many. Whether or not you will have the ability to retain your settlement will rely upon several factors. Speaking with a car accident lawyer can play a primary role in helping you to move forward. It’s important to note that much of the time, you may not be able to retain your car accident settlement. Your lawyer can consider your exemptions and the type of bankruptcy you will file to help you make the best personal decision for your situation. 

What are common reasons I may want to consider a car accident claim? 

The moments following a car accident can be incredibly overwhelming. You may be in shock, dealing with injuries, or facing significant losses. If the driver of the other vehicle is found negligent and you have experienced damages as a result, contact a car accident lawyer in your area for help in managing your car accident claim. A lawyer can keep your best interests at the forefront in efforts to ensure that you obtain a favorable outcome for your case. 

Should I wait to file for bankruptcy until after my car accident case has resolved?

When determining whether you should wait until after your bankruptcy to file a car accident claim, you will want to consult with a car accident lawyer first. If you filed for bankruptcy after receiving a settlement, you will be required to disclose this information in your bankruptcy filings. If you wait until after, your settlement may still be at risk. Working with a lawyer with experience in this area of practice can prove beneficial in strategizing the most appropriate time to file for bankruptcy and pursue your case accident claim. 

A car accident can leave accident victims reeling; chances are you could be struggling financially. Unfortunately, this may lead to a bankruptcy filing so that you may experience financial relief. For more information, contact an experienced lawyer, like a car accident lawyer, today.