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business grant while in bankruptcy

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    business grant while in bankruptcy

    does anyone know if you can receive a business grant while in bankruptcy chapter 7 and can this effect your bankruptcy case?

    for example, if you file a chapter 7 with a 30,000 job and during your case your get a 70,000 job offer during the bankruptcy and take it.
    Can any changes of these sorts effect your chapter 7, during the proccess?

    #2
    Which is it, a business grant, or a job offer.

    If we are really talking about a "grant", these tend to be relatively small amounts but they are cash. However, they do not fall into any asset exception, and therefore if you BOTH APPLIED for and RECEIVED the money AFTER the date of filling, those funds are not part of the BK estate.

    The job situation is touchy. Since the new job represents more than a 100% increase in salary, IDEALLY that is something you don't want to take until after discharge. How the issue gets resolved depends on when you interviewed for the job, when the offer was made, etc. If you applied for, interviewed for, and were offered the job all after the date you filed, you would most likely be ok and could accept the job during the pendency of the chapter 7. But if you applied for, and especially if you interviewed for the job BEFORE filing BK, then I think you could run into some problems accepting the position during the BK.

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      #3
      Since this is my first time on the forum, do you know of any specific website or article I can read and follow up on the grant during bankruptcy?

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        #4
        I am sure you can use google as well as anyone

        But seriously, have you read the grant application and the requirements for the grant.

        A grant is not an extension of credit, so there is no issue there. But, in the big picture, a chapter 7 barely lasts 4 months from filing to discharge is there really that much of a rush aside from your own anxiety to get started.

        The filing date of your BK establishes your BK estate. The BK estate is made up of all your assets and liabilities that exist AT THE TIME YOU FILED. Hence, aside from someone dieing and leaving you money or life insurance proceeds (within 180 days of you filing BK), anything you do, earn, buy, recieve, etc after YOU FILE is beyond the BK. Thus, this business grant would likely not be an issue in your BK.

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