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If you inherit money after a ch 7 bankruptcy how much time must pass before I have to pay said money to my creditors?
Wiki User
∙ 16y ago
If your bankruptcy is over....it's over. There is no claim to what ever you get in the future.
Wiki User
∙ 16y ago
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Do you list a landlord on the list of creditors in a bankruptcy?
You do if you owe him money. You must include ALL creditors.
What do you do if you receive an inheritance shortly before your Chapter 7 meeting with the creditors?
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.
After bankruptcy you got inheritance can a creditor with a secured promissory note go after the inheritance?
No exactly. If you inherit any money within 180 days after you filed the bankruptcy, it will become property the estate. The creditors cannot go fater it, but the trustee can force you to turn over the inherited assets. See section 545 of the bankruptcy code.
Which of these can occur when a person owes more money than he or she can earn or pay to creditors?
Bankruptcy.
Which can occur when a person owes more money than he or she can earn or pay to creditors?
bankruptcy
Which of these can occur when a person owes more money than he or she earn or pay to creditors?
bankruptcy
What is the preference period on bankruptcy?
A preference period is based on the relationship that a debtor has with a creditor. The debtor cannot transfer money to non-insider creditors during a 90 day period before filing for bankruptcy. The preference period for transfers made to insider creditors can be increased up to one year.
If you have an IRA can they take money from it when you go into bankruptcy?
IRA's are exempted personal property. Creditors can not touch this money to pay debths.
What can happen if you don't notify the trustee of inherited money after bankruptcy?
Nothing, or your bankruptcy discharge can be reversed, or you can be fined or sent to prison. It depends on how much you inherit and how long after the bankruptcy you inherited it.
Do creditors get money from settlement if no claim was filed during bankruptcy?
They would legitimately be entitled to be a party to the settlement but would need to apply to the bankruptcy administrator for consideration in this instance.
If you inherit money after filing bankruptcy can the attorney take it all even if you don't owe them that much ex. you inherit 25000 but owe them 5000 filed one year ago can they take all 25000?
Making no sense. Who is "them"? Attorney took the money?.. it wasn't the Court trustee? If you inherit money within 180 days after the discharge of your bankruptcy, you must notify your attorney who will notify the trustee and they may have claim to some of the inheritance. If the case was discharged a year ago, it is no longer property of the bankruptcy trustee.
Why can a trustee take your income tax return if you are filing a chapter 7 bankruptcy which relieves you of your debt and does the trustee give the money to the creditors?
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
