windfall amounts
If I were to receive a `windfall` sum during my bankruptcy and the amount exceeded what I owed to my creditors, would I get to keep the amount in excess of what I owed? Or do I lose all of it?
Also, if I have filed for bankruptcy, and then receive a windfall amount which would in effect pay off all of my debts and then some, am I still considered bankrupt or would my credit report be clear after everyone is paid off?
If you receive a windfall during bankruptcy, regardless of the amount, it vests in the trustee. Then these funds will be used to first cover the trustee fees, then the creditors would receive payment in full plus a 5% interest rate and any left over after that would be returned to the bankrupt.
Although, despite your creditors being paid in full, you would still be considered bankrupt and still have the R9 listed at the credit buruea.