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  1. #1
    Join Date
    Sep 2014
    Posts
    1

    Default Inheritance vs. Bankruptcy

    My question involves bankruptcy in the state of: South Carolina
    We filed a Chapter 13 for 57 months repayment. Repaying 2620.00 a mth. Never late. Unsecured percent is 100%. Our house is not included.
    In the case we included repayment of moneys to my husbands father. He recently passed away.
    My husband received monies from the closing of his fathers bank account and now has also received monies from a life insurance policy.
    We would like to pay off the Chapter 13 in full.
    Not sure what to do ?
    Can we? Are there repercussions? Will we pay more?
    OR
    Do we have to disclose that we received the monies? And should we just continue making our payments for the next 24 months remaining?
    Help!

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Inheritance vs. Bankruptcy

    You need to report the inheritance to the Trustee as well as the death so the payment can be redirected to his estate. The Trustee will determine the proper way to proceed with the case.

  3. #3
    Join Date
    Sep 2014
    Posts
    1

    Default Re: Inheritance vs. Bankruptcy

    If you are already paying 100% then this should just payoff your bankruptcy and you shouldn't be paying anymore. If anything the overall payoff might be less since less interest payments to creditors. Be sure to speak with your attorney before taking any action.

  4. #4
    Join Date
    Oct 2006
    Posts
    15,996

    Default Re: Inheritance vs. Bankruptcy

    Quote Quoting Disagreeable
    View Post
    You need to report the inheritance to the Trustee as well as the death so the payment can be redirected to his estate. The Trustee will determine the proper way to proceed with the case.
    DO NOT DO THIS.

    Talk to your bankruptcy attorney about the best way to proceed.

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