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T O P I C R E V I E W
pix1
Posted - 21 May 2008 : 10:23:35 Hello,
I am still not clear about something. If a discharged bankrupt acquires an asset can this be kept or will it form part of the bankruptcy estate? If it could be kept, would this still apply if the bankrupt was past the usual one year for automatic discharge but subject to a BRO/BRU? Also, would it make any difference if the discharged bankrupt was in an IPO/IPA?
2 L A T E S T R E P L I E S (Newest First)
pix1
Posted - 21 May 2008 : 12:10:22 Thanks Brett.
Helpful Advice
Posted - 21 May 2008 : 10:32:21 Hi Pix,
Assets acquired after discharge from Bankruptcy will not be taken into account in the Bankruptcy.
A BRU/BRO only extends the restrictions of Bankruptcy to the Bankrupt you will still be a discharged Bankrupt just subject to a restriction order.
An IPO/IPA deals with income and expenditure for 36 months this does not included after acquired assets like inheritance for instance.
