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Inheritance & Bankruptcy

When I declared bankruptcy, I owed close to $70,000. If I inherit a substantial amount of money during the bankruptcy period, let’s say $150,000, how much will the trustee take to pay my debtors?

Posted from: Ontario

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One Response to “Inheritance & Bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

All of the money would be first paid into the trustee. The trustee would pay your debts in full, plus 5% interest and his fees, which would likely be around $8,000. Then anything that is left would go back to you.