Bankruptcy & Statute Barred

Minkym00

It’s the date of death that’s key. If a bankrupt was bequeathed an inheritance from someone that dies before a bankrupt is charged, then the bequest is an asset in the bankruptcy, no matter when they actually receive it. Probate could take years and inheritance is often only available after a bankrupt is discharged. Not telling the OR would be a criminal offence.

dave3dtg

So how would the OR know if the parent dies before the end of the bankruptcy?
Also how would the OR know that the other three have given the bankrupt sibling the 25% after the bankruptcy has ended?

John_

dave3dtg said:

Sorry guys, another question....
What if I suddenly come in to money immediately after my bankruptcy ends, and that money came via someone else who had been verbally instructed to hand the money to me, even though the source eliminated me from their will and point in time of that money was due to me during my bankruptcy?

It does seem now that you were well aware when you went bankrupt that you had money likely coming your way, and were working from the beginning to try to exclude it.

Oh what a tangled web we weave, when first we practise to deceive...

dave3dtg

John_ said:

dave3dtg said:

Sorry guys, another question....
What if I suddenly come in to money immediately after my bankruptcy ends, and that money came via someone else who had been verbally instructed to hand the money to me, even though the source eliminated me from their will and point in time of that money was due to me during my bankruptcy?

It does seem now that you were well aware when you went bankrupt that you had money likely coming your way, and were working from the beginning to try to exclude it.

Oh what a tangled web we weave, when first we practise to deceive...

John you've shot for the Moon with this comment and ended up on Mars. So way off the mark.

For the record. It turns out declaring bankruptcy was a mistake due to various reasons.

I had been considering it for a while and mentioned it to my parents who even said, and knowing the consequences of property ownership and bankruptcy, they'd lend me the 680 quid fee. At no point did they say no you're on our Will's to inherit a third of a quarter or or a third of the whole house.

At the time of going bankrupt we knew my Dad didn't have long and there was no way he'd last a year which meant we knew he'd die before the end of my bankruptcy. But we also thought I wasn't on the Will.

So as far as I was aware money coming my way wasn't part of the equation. I'll probably go before my Mum!

I went bankrupt because I wasn't paying my debts and with failing health and ability to work more I ultimately would never be able to pay them.
Further, it would've been more beneficial for me not to go bankrupt because more of my debts were becoming statute barred. Going bankrupt and being advised by the OR to included all debts, statute barred or not, means that I have to now pay them...debts that I couldn't be taken to court for have now included on a court order for me to pay them if I come into money before the end of my bankruptcy.
Hardly a dirty, devious ploy to avoid paying them.

Minkym00

See my comment on the other thread. Statute-barred debts are non-provable in bankruptcy.