when bankrupt for the second time
February 16th, 2008 by Questions
After bankruptcy proceedings are complete and I am dutifully meeting all my financial obligations including a payment of 600.00 per month,can I invest in the stock market. The money used would be a portion of the 50% I am allowed to keep from my new job. The 600.00 comes out of my pension revenue.
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February 18, 2008 at 10:46 pm, Barton Goth GCO Bankruptcy Trustees said:
I never recommend you make investments until after you are discharged, but legally there is nothing preventing you from doing so.
However, the risk is that if one of these stocks should appreciate there is a very good argument that this increase and potentially the stocks themselves could be seized as a result of the bankruptcy as it can qualify as after-acquired property and therefore is not exempt from seizure. Now this isn’t very likely but it is possible. So I always recomend that you simply keep the money in cash until you are discharged.