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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Gifts received after bankruptcy

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

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One Response to “Gifts received after bankruptcy”

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.