Child Tax Benefits and Bankruptcy
My husband and I both declared personal bankruptcy and are to be discharged in September 2005. We are going to receive back-payment of Child Tax Benefits dating back to 1998 (we were unaware that we had never applied). It is quite a bit of money and will receive it about 10 days prior to discharge. Will we loose this money?
You have to declare it and if it is above your monthly allowed surplus income chances are you will have to forfeit it to your creditors.