Bankrupt and receive cash settlement from court

November 9th, 2011 by Questions

I am currently bankrupt and have received a cash settlement for $20,000. How much of this am I required to pay back to my trustee?

Posted from: Ontario


One Response to “Bankrupt and receive cash settlement from court”

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

You need to discuss this with your trustee. It may be all of it, it may be some of it, this will depend on the type of settlement. The other part of this is why did you accept a cash settlement, as part of a bankruptcy you loose the right to accept these types of things as it becomes the decision of the trustee, but that is something you will need to discuss with your trustee as well.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)