bankruptcy and inheritance

June 10th, 2008 by Questions

i am going to recieve an inheritance in about 6 months and was told i can`t claim bankrupsy. so what are my alternitives?

Posted from: Ontario


One Response to “bankruptcy and inheritance”

, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

It is not that you can’t claim bankruptcy it is that if you do claim bankruptcy then you will loose this inheritance. In terms of what to do, this largely depends on how much the inheritance will be. If it is goiing to be sufficient to pay your debts in full I would simply contact your creditors, explain the pending inheritance and your intention to pay the debts when it is recieved. If the inheritance isn’t going to be sufficeint to pay the debts in full you still may have to consult with a trustee about the possiblity of filing a bankruptcy or proposal.

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