Inheritance & Bankruptcy
September 13th, 2011 by Questions
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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September 13, 2011 at 8:35 pm, 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.