Once a debtor files a bankruptcy petition, the petition counts only those debts that are mentioned in the schedules. Therefore, any new debt a debtor incurs after the bankruptcy petition has been filed, they are on the hook for. Property of the estate is also determined at the date of filing. Postpetition wages are not considered property of the estate in a Chapter 7. The debtor's property of the estate will be the property subject to liquidation if there is no exemption to protect it. In addition, a bankruptcy Trustee will keep in mind inheritances received up to six months after the petition has been filed. If the debtor is not upfront and honest with the Trustee in disclosing these types of things, he or she could subject the bankruptcy petition to being dismissed or even worse the debtor could face purjury charges.
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