Windfalls/Gifts when BR

[BrassicLintus]

Hi all, I was just wondering, if I won the lottery after being made BR would I have to declare it? If I won enough could I pay off all my debts and reverse my BR? Or if it was a couple of grand would I have to declare it as in an IVA? Only ask as my mate in work has just shared £7 million on the Euromillions and you never know a bit of his luck could rub off on me!!!!!! [;)]

[BECKY]

I think if ur undischarged ud have to give some over , I asked this the other day and Im sure thats what skippy said, could be wrong though memory like a sieve!!! lucky friend though!![:)]

[lily]

If you are undischarged you would hand the amount you owe your creditors over plus fees, interest etc. But with 7 million I think you would have a bit left. It would be in your estate and is subject to the BR, if you were discharged it would be yours to keep.

lily

[Cybus]

I think at the end of the day, in a situation like this, it is down to an individual's conscience, their honesty and integrity.
I would only suggest that you do the right thing and declare it.

Tell it like it is.

[BrassicLintus]

Knowing my luck, if I did win I'd lose the damn ticket!!!!! But really pleased for my mate, he's such a nice guy and deserves it.

[iva experts]

Hi Brassic,

If you came into money and were a undischarged bankrupt then the money would have to go towards your creditors. However if you had already been discharged then the money is yours to keep. If you won an amount like £7 million I hardly think you would care about being bankrupt [:D]

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/