a windfall in BRO

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suz

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Post by suz » Fri Aug 24, 2007 8:23 am
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I went into voluntary BR in March. Looks like I will have an BRO (due to gambling) which I have been advised will be 3 years (I can of course contest this, but I wont because it was due to gambling) I would like to know
After March next year - BRO comes into effect end of march next year if I
come into a windfall, win the lottery or inherit any monies will the IP need to know i.e. will I need to off the creditors?
Suz
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MelanieGiles

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Post by MelanieGiles » Fri Aug 24, 2007 8:36 am
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Yes - whilst you are subject to these proceedings you are obliged to declare any assets to the Trustee.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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mikebdomain

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Post by mikebdomain » Fri Aug 24, 2007 9:25 am
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[:D] - Sorry, but BRO due to gambling debts... Lottory win...[:D]

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iva_squirrel

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Post by iva_squirrel » Fri Aug 24, 2007 11:23 am
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Hi suz,

You will have to declare any winfalls, assets to the Trustee.

Regards,
Michelle P.
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Oliver

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Post by Oliver » Fri Aug 24, 2007 11:45 am
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During this time all windfalls will need to be declared to the OR and may have to be paid towards your creditors.

I think if you win the lottery this will be the least of your worries.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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