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If a person receives an inheritance after being discharged from bankruptcy does the inheritance go to the bankruptcy?
No. Basically you start a new after filing.
Your pre-petition assets are used to pay your pre-petition debts. That's bankruptcy. You should understand it before you do it.
You don't chose what assets, and/or which debts...everything in your past gets involved.
Then you start a new.
What else can I help you with?
If a person files bankruptcy and it is discharged and closed it does not they can still take the inheritance to pay back creditors?
Once the debt is discharged, a creditor cannot reinstate it, even if you win the lottery.
What happens to the person who needs to file bankruptcy before discharged from previous bankruptcy?
The short answer is to get the case dismissed so it can be refiled.
If you are a landholder on a home and the person files bankruptcy will they be able to include the debt they owe you into the bankruptcy?
They can include it, but the creditor/landholder can file a relief of stay to have the debt excluded from being discharged in the bankruptcy. The decision of what debts are to be discharged are determined by state and/or federal law and the bankruptcy judge.
How does bankruptcy affect inheritance property?
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)
When a person files bankruptcy in October and then wins money in a lottery are they required to report the winnings to the bankruptcy court?
You would only need to report the winning ticket if the bankruptcy was not discharged.
Can a person file for divorce before their bankruptcy is discharged?
Sure. One action doesn't preclude the other.
A person has a judgment but files for bankruptcy can bankruptcy void the judgment of an earlier date in WA state?
Bankruptcy does not void the judgment. It simply makes it noncollectable because it was discharged in the bankruptcy like any other debt.
What happens to an incomplete bankruptcy filing if the filer dies before its completion?
The filer has to be in person for the 341 meeting so the bankruptcy would be dismissed. A bankruptcy may still be discharged if they are just waiting on the judge to discharge the bankruptcy.
Do you know if you go to bankruptcy court do you get discharged when you go there?
A person or persons would need to file for bankruptcy before having any contact with the court and/or bankruptcy trustee. A bankruptcy discharge is what is granted if the filing is deemed valid.
How would a bankruptcy trustee discover an inheritance after a filing?
An inheritance is reported to the IRS. Federal bankruptcy officers (judges, trustees) have the legal power to access the person's tax records through the IRS AIS system.
Are there any penalties or fines for selling your home after bankruptcy?
Not after the bankruptcy has been discharged. If the person is participating in a chapter 13 bankruptcy they must have the permission of the trustee/court to engage in any major financial transactions.
In some states a person who receives property when someone dies must pay an?
...inheritance tax.
