In Chapter 7 Bankruptcy, Can I Protect Life Insurance Proceeds Already Received?

Life insurance proceeds already received prior to the filing of a Chapter 7 bankruptcy petition can be protected to the extent that they are reasonably necessary for the support of the bankruptcy filer, or their dependents.

Click here to read more about life insurance funds in Chapter 7 bankruptcy on the new Michigan Bankruptcy Blog of Michigan Bankruptcy Attorneys The Hilla Law Firm, PLLC.

If you are a southeast Michigan resident considering filing for bankruptcy, please contact us at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

2 responses to “In Chapter 7 Bankruptcy, Can I Protect Life Insurance Proceeds Already Received?

  1. Thanks a lot for this information. Do you know if the same applies to Massachusetts? If yes please kindly direct me where to look for it. Thanks a lot.

  2. Consult http://www.nacba.org to find a Massachusetts bankruptcy attorney who can answer this question for you. Good luck!

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