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Posted: Fri Aug 24, 2007 8:23 am
by suz
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
Posted: Fri Aug 24, 2007 8:36 am
by MelanieGiles
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
Posted: Fri Aug 24, 2007 9:25 am
by mikebdomain
[:D] - Sorry, but BRO due to gambling debts... Lottory win...[:D]
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Mortgage Broker
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Posted: Fri Aug 24, 2007 11:23 am
by iva_squirrel
Hi suz,
You will have to declare any winfalls, assets to the Trustee.
Regards,
Michelle P.
Posted: Fri Aug 24, 2007 11:45 am
by Oliver
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