Weight of Bankruptcy in future civil legal matters: Does BK figure into damages?

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I’ve got two factors pushing me closer to BK with a sole creditor I owe $60k payments are $1,333 a month which is about a third of my take home (also have $1.5 credit card balances and I’m currently enrolled in Grad school with a federal student loan). There was an accidental fire in my residence in August which insurance has still not paid.

Additionally, I have $190k outstanding from the sale of business 2 that was sold to open business 1. That’s the $60 I owe (secured business debt with personal credit).

Question: when and if I need to litigate to collect, will BK help me recover more damages from insurance or business 2?

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oCtsidO

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Posted: 11 months ago
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External URL: reddit.com/r/Bankruptcy/...