inheritance and bankruptcy annulled ?

December 10th, 2009 by Questions

lets say if you are in the middle of your discharge period, and you receive a huge inheritance that covers more than your debt was worth. you notify your trustee and i am assuming that your creditors would get paid off, and if there is anything left after all the fees and interest, you might be able to keep some of the money. but, now that you have paid off your creditors, is the bankruptcy annulled, or what happens? does bankruptcy appear on your credit report ?

Posted from: Ontario


One Response to “inheritance and bankruptcy annulled ?”

, A licensed trustee said:

In order for the bankruptcy to be annulled you have to make an application to the Courts. If your detbs have been paid in full then the motion is not complicated and it will likely be granted. This is certainly something to discuss with your trustee as they can explain the process in your area.

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