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Debt Consolidation Forums Bankruptcy Chapter 7 and Chapter 13 forums

What happens to inherited property in bankruptcy?

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I have file Chapter 13 bankruptcy 6 months back. I have started making the scheduled payments as well. Now suddenly I have come to know that my uncle has left his house in my name and some other assets. What to do now. I am confused.

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.

Sub: #1 posted on Tue, 07/17/2018 - 04:03

David Martin David Martin

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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!

Sub: #2 posted on Thu, 07/19/2018 - 01:50

sanderspatricia29 sanderspatricia29

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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!

Sub: #3 posted on Thu, 07/19/2018 - 06:58

Barbara Delinsky Barbara Delinsky

(Posts: 432 | Credits: )

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