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Yes, a discharged bankrupt can be a beneficiary in a will. Being a beneficiary does not prevent someone from receiving inheritance, even if they have previously declared bankruptcy. However, the inheritance may be subject to certain conditions, such as being used to pay off debts if the bankruptcy trustee has a claim on it. It's advisable for individuals in this situation to consult with a legal professional to understand the implications fully.
What else can I help you with?
Can a bankrupt start a new company?
In the UK a bankrupt cannot carry on a business. However, after twelve months of restriction, and provided no adverse behaviour on the bankrupt's part has taken place, a discharge is issued by the Court After discharge a bankrupt can carry on, or start, a business without the restrictions that applied during their bankruptcy. And, provided they are not subject to a separate disqualification order, a discharged bankrupt can also act as a director of a limited company or be involved in its management.
If your spouse leave you executor and benificary will you inherit everything that he owned?
The exector has a duty to execute the will. One of the first things is to value the estate and determine what the debts of the deceased are. Once the debts of the deceased are discharged, the remainder will go to the sole beneficiary.
Can you be a teacher if you go bankrupt?
Can you be a teacher if you go bankrupt ?
How can a second mortgage loan be discharged?
Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.
What is the basic meaning of bankrupt?
A trader who secretes himself, or does certain other acts tending to defraud his creditors., A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person., A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities., Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant., Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury., Relating to bankrupts and bankruptcy., Destitute of, or wholly wanting (something once possessed, or something one should possess)., To make bankrupt; to bring financial ruin upon; to impoverish.
Can you bankrupt on a government student loan?
These are not allowed to be discharged.
Do you legally have to declare im a discharged bankrupt?
The process was a legal process and that is the result.
Its been 3 years since you were bankrupt how do you find out if im discharged?
YES
If you are bankrupt do you still have to pay child support?
Child support is not discharged in bankruptcy.
What is the definition of a bankrupt person?
A bankrupt person is one who cannot pay his debts. Bankruptcy laws sometimes allow indebtedness to be legally discharged when it is unlikely to ever be repaid.
Can you bankrupt a judgement from a divorce settlement?
No you cannot. Court judgements, like tax obligations to the government, cannot be discharged in bankruptcy court.
Can a bankrupt start a new company?
In the UK a bankrupt cannot carry on a business. However, after twelve months of restriction, and provided no adverse behaviour on the bankrupt's part has taken place, a discharge is issued by the Court After discharge a bankrupt can carry on, or start, a business without the restrictions that applied during their bankruptcy. And, provided they are not subject to a separate disqualification order, a discharged bankrupt can also act as a director of a limited company or be involved in its management.
If a debt is not reaffirmed by a creditor is the debt discharged in a bankruptcy?
The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.
Can you bankrupt an Unsubsidized student loan?
In theory yes- student loans can be discharged. In practice- it is extremely rare. The only examples i have seen where a student loan is discharged is when the borrower is paralyzed, have a severe neurological disorder, or has been diagnosed with an end stage illness and are therefore unable to work. A discharge of student loans is so rare that most attorneys flat out tell potential clients that student loans are not dischargeable. I'm not sure what you mean by "unsubsidized" - I know what it means - I'm not sure you do! A government backed (that doesn't mean subsidized) student loan cannot be discharged in bankruptcy. If it isn't government backed, it is simply a personal loan you used to pay for education and may be discharged like any other. Additionally, you do not bankrupt "a loan"...you go bankrupt - it includes all things you own and owe. Nothing is excluded. Some things may not be discharged.
Can you file child support on bankruptcy?
No, child support arrears cannot be discharged in bankruptcy.
Can you bankrupt your water bill and still stay in your house?
Possibly, but the water company will probably discontinue service to your house. YOU go bankrupt. Not on a bill, or a this or a that. All your debts, and all your assets are included. Generally, your assets are used to pay your debts, with any excess debts being discharged. Yes, water bills are dischargeable debts. If you go bankrupt, your house and/or other assets may be used to pay your debts.
Can child support be discharged by bankruptcy?
No...child support obligations may not be discharged in bankruptcy...out of the courts authority. There is virtually no legal way to escape your obligation on this. The Feds will withhold any benefit you may have coming, even well in the future (like Social Security, taxes, etc) to pay it back. And of course, they are YOUR kids...unfortunate they ended up with a morally bankrupt parent that wants to financially bankrupt them too.
