December 9th, 2011 by Questions
My Question is..My Parents had too claim Bankeupty due too my Sister..They have finish everything up 2 yrs ago.. Now they are getting Back pay from income tax for past 8 yrs ..My other sister was saying that they will have too pay money too back because its money maked before they claimed so they now can pay all creditors back ..But once they claim Bankeupty isn;t this all done now,,they are free and clear..hope you understand what i am asking..Thanks
Posted from: British Columbia
One Response to “After Bankeuptcy”
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December 09, 2011 at 7:51 am, A licensed trustee said:
Your sister is correct – any tax refunds that relate to the period BEFORE your parents filed for bankruptcy will be sent to their trustee for the benefit of their unsecured creditors. This will happen no matter how much time has passed since they filed and/or were discharged.