Clarksville, TN asked in Bankruptcy for Arizona

Q: Inheritance during chapter 13

I am 3 years into chapter 13 with 2 years left. My base plan is $22,000 which I’ve paid $12,000 $10,000 left. This is for secured creditors. Question is if I was to receive an inheritance for $50,000 for example, would trustee take $10,000 only? I have many unsecured creditors so would they take the whole thing to start paying unsecured creditors? So I would get nothing? Thanks in advance

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1 Lawyer Answer
Justin M. Gillman
Justin M. Gillman
PREMIUM
Answered
  • Bankruptcy Lawyer
  • Edison, NJ

A: This is an extremely complicated question and one that should be reviewed as soon as possible with an experienced attorney who practices in the jurisdiction in which your case was filed. There is no generic answer to the question but the more promptly you review this with an attorney, the better you will understand and be able to protect your rights.

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