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Posted: Sun Dec 25, 2011 11:18 pm
by xxxxx78
Someone I know who was decared bankrupt just over a year ago, has just received a large tax rebate. Is this money his to spend? If not when or who does it have to be paid to?
Posted: Mon Dec 26, 2011 7:59 am
by kallis3
Hi and welcome to the forum,
Not sure whether he will have to pay this across or not. Hopefully one of the experts will be able to assist.
Posted: Mon Dec 26, 2011 10:36 am
by plasticdaft
Pardon my asking but is it any of your business? Is it a friend of yours?
Paul
Posted: Mon Dec 26, 2011 11:58 am
by janderson
Hi
I agree, it is with due respect nothing to do with you and you should leave things alone.
Posted: Mon Dec 26, 2011 12:05 pm
by kallis3
Before we jump to conclusions, it could be that the OP is asking on behalf of this person.
Posted: Mon Dec 26, 2011 12:18 pm
by plasticdaft
No conclusions but worthwhile asking.
Paul
Posted: Tue Dec 27, 2011 8:42 am
by Shining
I've asked questions before about a person being in an IVA receiving an inheritance which wasn't declare, that was none of my business really but I wanted views on it.
Posted: Wed Dec 28, 2011 12:12 am
by Broke of London
Interesting question! I would love to know the answer!
Posted: Wed Dec 28, 2011 2:42 pm
by size5
The answer is that it would be classed as an after acquired asset and would be part of the bankruptcy estate if the bankrupt has not been discharged.
If the bankrupt has been discharged then it may be difficult to recover the funds in reality, although it could be argued that if the rebate is for a period prior to the making of the bankruptcy order then it should be an asset in the bankruptcy estate.
Regards.