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After Bankeuptcy

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

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One Response to “After Bankeuptcy”

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.