Crosswords4 mins ago
Bankcrupt help please
1 Answers
I am owed �1400 by a chap that has been made or has declared himself bankcrupt. His father has just died. He will get around �150,000 from the estate. Will he have to pay his creditors? if he does who should I let know about his change of circumstances? Thanks for looking
Answers
Only 1 answer
Best Answer
No best answer has yet been selected by nedlith. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
If he is bankrupt now then he has a duty to notify the Official Receiver that he will be inheriting. The money will be taken from him & used to pay the ORs fees and the creditors. If his creditors are a lot less than the �150K then they should all be paid in full.
You should have been notified about the bankruptcy by the OR, & you should notify the OR of the inheritance just in case the bankrupt fails to do so.
You should have been notified about the bankruptcy by the OR, & you should notify the OR of the inheritance just in case the bankrupt fails to do so.
Only 1 answer
