September 4th, 2012 by Questions
A person under bankruptcy win a large amount of money in a lottery, whats happen to the money? Can the person collect the money, pay is debts and keep the rest?
Posted from: Ontario
September 04, 2012 at 11:59 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If you are in bankruptcy and have any kind of windfall like you described you are legally required to notify your trustee. The windfall will be paid to the trustee directly and the trustee will use it to pay his fees, the creditors in full plus 5% interest, a $200.00 levy to the government and then the remainder (only if there is sufficient to pay all other parties) will be turned back to you.
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