My question involves bankruptcy in the state of: New York
I won a judgement back in 2004. I put a lien on assets at the time. I was unable to collect due to the fact that he had nothing or was able to hide assets well. The person filed for chapter 7 back in 2011. The person that i sued won a settlement. I recently received a call from the trustee. He claims for me to receive a small portion of my settlement, that I will need to change my settlement from secure to unsecure. Unsecure sounds less of a chance that I receive anything. The trustee wants it done asap because he wants to close out the case.
Is this wise for me to change to unsecure?
Whats the process for changing to unsecure?
I won a judgement back in 2004. I put a lien on assets at the time. I was unable to collect due to the fact that he had nothing or was able to hide assets well. The person filed for chapter 7 back in 2011. The person that i sued won a settlement. I recently received a call from the trustee. He claims for me to receive a small portion of my settlement, that I will need to change my settlement from secure to unsecure. Unsecure sounds less of a chance that I receive anything. The trustee wants it done asap because he wants to close out the case.
Is this wise for me to change to unsecure?
Whats the process for changing to unsecure?
Secure vs Unsecure Settlement in Chapter 7
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