What if your inheritance was more then your total discharged debt?

November 16th, 2009 by Questions

What if your inheritance was more then your total discharged debt? Would you get what is leftover?

Posted from: Ontario

Questions

One Response to “What if your inheritance was more then your total discharged debt?”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

If you receive an inheritance during bankruptcy the money, irrespective of the amount, will be used as follows:

1. To pay the cost of administration (the trustee);

2. To pay the creditors. The most your creditors could get would be payment in full plus 5% interest; and

3. Anything left would be returned to the debtor upon confirmaiton that all previous payments had successfully cleared the bank.

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