If I'm Filing for Bankruptcy Can They Take My Sinkhole Settlement?
Sinkholes
- A sinkhole is a phenomenon where the rock supporting a piece of land's surface loses the ability to maintain that support. The result is that the land's surface collapses into the ground, creating a hole. Sometimes valuable property is sitting on top of the land when it collapses. If the property's owner has insurance, the insurance company will assess the damage and issue a settlement check. For property owners in the midst of bankruptcy, the trustee is there waiting when the check arrives.