I may receive a inheritance in the range of 150000$ however my debts are 60000$ and my health extremely poor i am looking at going on disability i was defrauded 51000$ of the 60000$ and i am taking a beating on payments since the inheritance was willed to me before filing bankruptcy will the creditors be able to garanshee the full 150000 or just the remainder of the debts owing from the 60000$
Today 02/12/2012
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If you receive an inheritance while bankrupt, the inheritance becomes the property of your bankruptcy estate. If the inheritance is larger than your debts, the trustee will send a final dividend notice to all creditors to prove their claims, and then they will distribute the money. Once all debts are paid in full, the trustee may apply to court to have your bankruptcy annulled, and the remaining money could then be returned to you. Your trustee will be able to provide you with more information on this process.