Gifts received after bankruptcy
November 22nd, 2012 by Questions
How does the Trustee look at gifts while under bankruptcy protection.? For instance, I get a christmas or birthday gift of cash while under protection, it is payable to the trustee? What about gifts in kind, like gift cards?
Posted from: Manitoba
One Response to “Gifts received after bankruptcy”
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November 22, 2012 at 7:53 am, A licensed trustee said:
The law says that any windfalls (free money) is subject to seizure so technically even a $1 gift or present should be taken. That’s bit impractical so most trustees have set their own policy over what needs to be reported. You need to ask the trustee you are dealing with what their policy is.