If I were to file for Bankruptcy, Chapter 7, to completely would that have any bearing on any future inheritance money.
South Pasadena, CA
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Posted 9 months ago in Bankruptcy / Chapter 7
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Specifically referring to Chapter 7 which would discharge all debt as opposed to Chapter 11
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Answers (2)Margery Ellen Golant
This attorney is licensed in Florida and 1 other state.
Posted 9 months ago.
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I am unclear about why you would mention both Chapter 7 and Chapter 11 in the same question, as the threshhold requirements and criteria differ greatly. In order to qualify to file Chapter 7, there is a household income test. If your household income for the past 6 months exceeds one half of the threshhold annual income number, you can't file Chapter 7. If your debts are too large to discharge in Chapter 13, you may consider Chapter 11, which is a much more complex and much more expensive proceeding.
In either case, you are required to include future expectancies, and iimminent. If the death of the person you anticipate inheriting from occurs within 180 days of filing, you are required to inform the Bankruptcy trustee, who will make a claim on it. Michael John Harrington
This attorney is licensed in California.
Posted 9 months ago.
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I agree with the first answer concerning money or property to be received in the next 6 months from the date of filing bankruptcy.
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