Bankruptcy and Class Action Settlements
My parents filed for bankruptcy for credit card debt. They then got money from a class action private settlement. They had to wait 90 days to let creditors claim their money. They were told they would get it after 90 days. Now it's been 160 days and they are still being told to wait b/c of paper work. The money left is the surplus from the debt they had. The settlement was higher than their original debt. When should they have gotten the remaining money from the settlement?
Re: Bankruptcy and Class Action Settlements
From your question, it sounds as if the settlement proceeds from the lawsuit were turned over to the bankruptcy trustee to pay creditor claims. If the claims have already been paid and money is left over, call the bankrputcy trustee to inquire when the rest will be returned to your parents. He or she may still have to file a Final Report with the bankrputcy courts.
