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 bankruptcy postbag for may
 After Acquired Assets
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pix1
Average Member

689 Posts

Posted - 21 May 2008 :  10:23:35  Show Profile  Reply with Quote
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?

Helpful Advice
Average Member



United Kingdom
646 Posts

Posted - 21 May 2008 :  10:32:21  Show Profile  Visit Helpful Advice's Homepage  Reply with Quote
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.


Kind Regards,

Brett England


Bankruptcy Specialist

England,Jackman & Spacey

WebSite www.ejands.co.uk


View my personal story & blogs at:

http://brettengland.blogs.bankruptcyhelp.org.uk/
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pix1
Average Member

689 Posts

Posted - 21 May 2008 :  12:10:22  Show Profile  Reply with Quote
Thanks Brett.

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