What happens to inherited property in bankruptcy?
Date: Mon, 07/16/2018 - 22:55
Well, well, well!!! Bad luck
Well, well, well!!! Bad luck dude!!! You should report it to the bankruptcy court.
You have to amend your bankruptcy repayment plan. The bankruptcy court will take the inheritance into account even if 6 months have passed.
Yes, as per the rule, you
Yes, as per the rule, you have to report about the death benefit to the bankruptcy court. Remember, during the chapter 13 bankruptcy, you have to report your income increase/ salary increment to the court as well. The court will modify the repayment plan according to your current financial ability.
Not informing or hiding inheritance or increment will be considered as bankruptcy fraud!
Inform the court about your
Inform the court about your sudden gain. That death benefit will be considered by the bankruptcy court. The court will modify your the repayment plan as per your current situation. Patricia is right, do it asap unless it'll be considered as bankruptcy fraud!