Log in

View Full Version : During chapter 13 bankruptcy receive inheritance, opt out of bankruptcy and pay off?


robert_rivera
Jan 24, 2011, 11:32 AM
I am six months into a chapter 13 bankruptcy and I have received an inheritance. My bankruptcy is about 60% payout of my total debt of $90K. My inheritance is about 50% of what I owe. Should I opt out of the bankruptcy and try to negotiate with the credit card companies for a payoff for about 50% of what I currently owe and would they be willing to accept a 50% payoff?

JudyKayTee
Jan 24, 2011, 11:44 AM
The only way to know is to ask your creditors. What does your attorney advise?

robert_rivera
Jan 24, 2011, 12:00 PM
I see my attorney on Wednesday. Hoping to get some information so I can make a more informed decision.

JudyKayTee
Jan 24, 2011, 12:07 PM
Too much depends on who you owe, what they will agree to do, the rest of your financial picture (including employment, credit reports, etc.)