supp needs trust/bankrupt
in the process of filing Ch 7 Pers Bankrup with the help of a pro-bono legal assistance pro here in NYC. Most of the bankruptcy from credit card bills, which at time I stopped using them 2 years ago, totaled $40,000. The total amt owed is now well over $100,000 due to interest.
The case has yet to be filed as it is taking these lawyers long time to get it all together and I really cant push things along very much as it is pro bono.
The problem that seems to be holding things up now is that I have just found out that I am going to get $12000 payment for back wages from 2005 from my previous employer. At first they werent going to pay it, but decided that they would so they wouldnt have to go to court about it.
I want to set up a Supplemental Needs Trust for this money to protect it from any of the creditors getting their hands on it when the bankruptcy is filed. I am HIV+ since 1990 and, so , legally I am qualified to set one up.
Can you tell me if one is set up for me with this money , do we do it before we file the bankruptcy? and is there any chance that the creditors could get any of that money when bankruptcy is filed? am in grad school now - money will enable me to pay for grad school- so need to hold on to all $