Is it possible to reverse a bankruptcy if one comes into a financial winfall?
Bankruptcy Alberta: Free Information about Bankruptcy in Alberta
Is it possible to reverse a bankruptcy if one comes into a financial winfall?
Unfortunately it is not possible to reverse a bankruptcy due to a windfall.
What you are required by law to do now is inform your trustee of that windfall as it is likely an estate asset that will vest in the trustee.
Depending on the size of this windfall it will pay the trustee’s in full, and if large enough create a dividend that will be paid to your creditors.
The only other option is to discuss with your trustee the possibility of filing a proposal, which will serve to annul the bankruptcy and then have a reduced impact on your credit rating.