bankruptcy and inheritance

M

moonfish

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Does anybody have any information on inheritance received prior to bankruptcy..
myself and my siblings were left a small property which we sold 6 months ago of this sale we only got 15,000 each ..5000 of that i used to pay back family money and the rest went on daily expenses over the last 6 months..will this affect my bankruptcy negatively when i file in the next few months
 
So you've spent the inheritence? I don't see how it will negatively impact your bankruptcy application. That will be based on your situation when you apply. Only way it could be negative is if you deliberately tried to avoid paying creditors.
 
moonfish said:
Does anybody have any information on inheritance received prior to bankruptcy..
myself and my siblings were left a small property which we sold 6 months ago of this sale we only got 15,000 each ..5000 of that i used to pay back family money and the rest went on daily expenses over the last 6 months..will this affect my bankruptcy negatively when i file in the next few months
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Get advice regarding paying your family back money before your other debts. There are some rules regarding making preferential payments to creditors.
 
advice

Actually its very hard to get advice on bankruptcy presently as everyone seems quiet u sure about the outcomes and are reluctant to commit
 
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