If you're looking for someone to tell you that inherited funds are somehow immune from legal collection procedures, I don't think that will happen either. * All income including that of an inheritance is subject to creditor action if the creditor chooses to follow due process of law (civil lawsuit) to recover monies owed.
You must list an inheritance (or even possibility of inheritance) within 180 days of filing BK. So if you are to receive an inheritance, even if your BK was already discharged, within 6 months of filing, you must inform the BK Trustee (who would have the right to take the inheritance to distribute among the creditors)
If the inheritance is based on a death within 180 days of filing bk, the inheritance becomes part of the estate and the trustee will use it to pay your creditors.
Once the debt is discharged, a creditor cannot reinstate it, even if you win the lottery.
Only if you didn't read chapters 1-6.
Ephraim Farmer has written: 'To Ephraim Farmer's creditors & correspondents' -- subject(s): Estate, Inheritance and succession
Yes, but the inheritance will become part of the BK estate, which means the money would have to be turned over to the trustee to pay off your creditors (i.e. you do not get to keep the inheritance).
No...almost impossible.
NO!
Sundry Debtors are from whom we have to take money and to sundry creditors we owe money.
Sundry Debtors are from whom we have to take money and to sundry creditors we owe money.
That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.
Any money you inherit prior to a bankruptcy being discharged would have to be revealed to the judge and trustee assigned. These newly acquired assets would be factored into your financial picture and may be captured in whole or part to pay your creditors. It is possible that a sizable inheritance would cause your bankruptcy petition to be "thrown out". Consult with a competent attorney to learn the exact implications in your case and state.