Ask Experts Questions for FREE Help !
Ask
    maggies mom's Avatar
    maggies mom Posts: 2, Reputation: 1
    New Member
    		  
    #1

    May 14, 2006, 06:52 PM
    Bankruptcy
    If someone files bankruptcy, and then finds out a rich relative dies and is in line for an inheritance, how will that affect the bankruptcy proceedings.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    May 14, 2006, 06:54 PM
    Yes, if he collects the money prior to the bankruptcy being final, he would have to declare the income from this and most likely the money would have to be used first to pay off the people they owe before he would get any of the money.

    But of course they owe the money, and now they have the money, so that is only right
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Bankruptcy help [ 3 Answers ]

I am trying to go through bankruptcy, I have to get all my information together for my consultation. I live with my father and I was just wondering if anybody knows if this will hurt him at all? I have about 24,000 in debt all through credit cards, I am now off work for medical reasons expected to...

Bankruptcy [ 3 Answers ]

I was declared bankrupt in Dec 03. I have not had any correspondence stating the length of time l am bankrupt. Is there a site l could go on with maybe a register of bankrupts?

Bankruptcy [ 1 Answers ]

If you file chapter 7 do you lose all your IRA savings?

View more questions Search