Lesson 16- Is the Injured Party or the Injured Party's Estate in Bankruptcy?

Is the Injured Party or the Injured Party's Estate in Bankruptcy?

 

“Is the Injured Party or the Injured Party’s Estate in Bankruptcy?” is a question that is just important as, “Do They Already Have a Lawyer?”  

The answer does matter because advance companies do not usually consider an advance if the Applicant is in bankruptcy.  This is a problem.  If they are in bankruptcy, then, as far as you are concerned and to save you time and potentially money, this case should be considered dead as to an advance payment because the chances are slim that the case, no matter how good it looks, will be considered as a security by any advance company for any advance payment. Let’s don’t say it is impossible, but… (and this is true even if the injured party already has a lawyer).  

Therefore, if the injured party is in bankruptcy, then you can do whatever you want (after all, you are “Independent”), but it is recommended that you not pursue the injured party’s desire to seek an advance payment, however, that should not discourage the injured party from pursuing their legal rights. After all, their case may be the best one to ever be tried in a court of law and the injured party may receive a large amount of money when the case is concluded, but it is doubtful that any advance company will even take a look at it.  

If they are not in bankruptcy and they do have a lawyer, then you probably want to proceed with the process.

 

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