Australia's #1 for Law

Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!

NSW Bankruptcy - What Happens to Debt if Trustee Fails to Recover Money?

Discussion in 'Debt and Bankruptcy Law Forum' started by TebetMonkey, 20 January 2016.

  1. TebetMonkey

    TebetMonkey Member

    Joined:
    3 December 2015
    Messages:
    3
    Likes Received:
    0
    J is in bankruptcy. W owes J money. The Trustee has failed to recover the money from W. J is about to leave bankruptcy. If the Trustee does not recover the debt, is that debt forgiven and not due and payable once J's bankruptcy is discharged? Can J then go and collect the amount of money owing, or does the Trustee still try and recover this money even though J has been discharged?
     
  2. Sophea

    Sophea Guest

    The debt would remain owing - it is not cancelled. I'm not sure whether the Trustee would try to collect the recovered debt after discharge though.
     
Loading...

Share This Page

Loading...
gt;