Question: If i go bankrupt then recieve an inheritance will it affect my bankrupcy? will i have to pay?
Answer: If you receive or become entitled to receive an inheritance while you are an undischarged bankrupt, the trustee will seize the inheritance and distribute the proceeds to your creditors. If the inheritance is large enough to repay your creditors and all costs in full, your trustee will pay the creditors in full, then annul the bankruptcy and return the balance of the funds to you.
Answer: If you receive or become entitled to receive an inheritance while you are an undischarged bankrupt, the trustee will seize the inheritance and distribute the proceeds to your creditors. If the inheritance is large enough to repay your creditors and all costs in full, your trustee will pay the creditors in full, then annul the bankruptcy and return the balance of the funds to you.
Labels: bankruptcy Ontario
posted by Questions @ 11:08 AM
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