Author Topic: Inheritence and bankruptcy  (Read 2170 times)

laura09

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Inheritence and bankruptcy
« on: Jan 20, 2009, 11:07:22 AM »

I am in a situation where i am considering bankruptcy. My stepfather had access to my bank account and i am now in £15000 worth of debt, although in the banks eyes i am responsible. Being a 21year old student the prospect of being able to pay this off doesnt look good.
The problem is that my grandfather passed away and has left me some money which i cant touch until im 25. If i decide to go down the path of bankruptcy i need to know what is going to happen to that inheritence and if i can protect it, especially seeing as this isnt my doing.
Was wondering if anyone has any advice?

needdebtadvice

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Re: Inheritence and bankruptcy
« Reply #1 on: Feb 05, 2009, 11:17:34 AM »
Unfortunately Laura any money you receive during the course of your bankruptcy will go to creditors. Will your bankruptcy be finished by the time you are 25? I don't know how old you are. You maybe complete the bankruptcy in time.
Explore ALL your debt reduction options, not just

needdebtadvice

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  • Posts: 3
Re: Inheritence and bankruptcy
« Reply #2 on: Feb 05, 2009, 11:18:16 AM »
Excuse me, you said you were 21, apologies for not noticing that first time around.
Explore ALL your debt reduction options, not just