i was notified that i was a beneficary of a insurance but have filed bankruptcy I did not declare this as I new nothing about it what will happen now? Is there any way the trustee can find out about this if it was not listed on the estate assest?
2006-07-11 14:40:42 · 8 answers · asked by frantech 1 in Politics & Government ➔ Law & Ethics
One of my practice areas is Bankruptcy law.
You indicated in your question that you recieved the money after you filed for bankruptcy. However, before giving a specific answer, let's review some caveats:
1) Did you know prior to filing bankruptcy that you would be receiving the money?
a) If YES.. did you divulge that in your bankruptcy filing?
IF you did, and the trustee chooses to ignore it, (aka Abandon it) then you will probably be allowed to keep the money.
IF YOU DID NOT.. then it is fraud. You may be subject to criminal and civil penalties.
b) if you did NOT know prior to filing bankruptcy that you were going to recieve the money. AND the money is received after filing for bankruptcy. YOU MUST contact your attorney immediately. The Bankruptcy Code for sudden inheritences has changed significantly. Your attorney can advise you if you need to report this to the court.
As always: I hope you had an attorney, properly licensed in your state, handle your bankruptcy. If you need an attorney and do not have one, call your local or state bar association for a referral.
2006-07-11 20:11:47 · answer #1 · answered by Phil R 5 · 0⤊ 0⤋
I dont know where your from but when i filed for bankruptcy they didnt check anything. The courts nor the lawyer have the time or desire to check all the facts so consider it a windfall and save it. Believe me you will need it cause your credit is going to be fu**ed.
2006-07-11 14:49:11 · answer #2 · answered by blasted 3 · 0⤊ 0⤋
Depends on how much it is, but believe me bankruptcy is a last resort, you're screwed for about 8 years. You will have to reveal it to the court, I suggest cancelling the bankrupcy.
2006-07-11 14:49:31 · answer #3 · answered by Mr.Wise 6 · 0⤊ 0⤋
Any money that you recieve within six months of the discharge of the bankruptcy must be declared.
2006-07-11 14:44:03 · answer #4 · answered by normobrian 6 · 0⤊ 0⤋
You need to notify the court immediately. If you don't you will get in big trouble (Can you spell fraud and perjury?) and the bankruptcy could be thrown out.
2006-07-11 14:43:39 · answer #5 · answered by ceprn 6 · 0⤊ 0⤋
yes the trustee will find out call your attorney
and tell him you knew nothing about it but the trustee will probably take most of it to pay your bills
2006-07-11 14:46:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
maby ask your bankruptcy lawyer, besides if you owe money and can pay for it now perhaps you should, you'll feel better about yourself.
2006-07-11 14:44:23 · answer #7 · answered by donna 4 · 0⤊ 0⤋
Call your lawyer and ask them.
2006-07-11 14:42:46 · answer #8 · answered by auntiegrav 6 · 0⤊ 0⤋