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Max Lowry
Max Lowry, Advocate
Category: Law
Satisfied Customers: 1457
Experience:  LLB, 10 years post qualification experience
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I was made bankrupt in july 2012 discharged in july 2013,i

Customer Question

i was made bankrupt in july 2012 discharged in july 2013,i since came into some money from my late mums estate.my mum passed away in jan 2013 but made a clause in her will that both myself and my brother could stay in the house for 2 years then needed to be sold which it has now been sold,does this mean that i have to pay back the money i have recieved to the insolvency agency ?
Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 2 years ago.

yes i can wait for a answer,but could you tell me how long it would be please

many thanks

david

Expert:  Nicola-mod replied 2 years ago.
Hello,
We will continue to look for a Professional to assist you. I'm afraid JustAnswer cannot guarantee a time, however most questions are answered in a timely manner.
Thank you for your patience,
Nicola
Expert:  Alex J. replied 2 years ago.
HiThank you for your question and welcome.My name is ***** ***** I will assist you.Has the Insolvency Service demanded the money?Kind regardsAJ
Customer: replied 2 years ago.

yes the insolvency service has demanded the money

dave

Expert:  Max Lowry replied 2 years ago.
Hi, welcome to the site. My name is ***** ***** I will help you with your question. The key issue here is when you inherited rather than the date you receive the money. On the basis you inherited from your late mother before discharge even though the money came to you after discharge the money will be treated as an unrealised asset. This means that the Official Receiver will be entitled to seek the payment from you even though it was received after discharge.
I have a duty to be honest and tell you the way the law stands in relation to this. I am not allowed to misguide you.
I hope this helps. If I can clarify anything please let me know. Please rate the service - the question will not close.
Kind regards
Max