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Bankcrupt help please
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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
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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.
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