premium bonds

Hi, I went bankrupt on 8 May this year. I have had my appointment with the official receiver staff. I told them I had 2 premium bonds(worth £2) and handed them over. I also explained my grandmother bought them for me when I was 4 years old (I am now 54) and that I would like to buy them back for face value as they had very strong sentimental value. They are the only thing I have left from my grandmother, she died several years ago. I told them I understood that if they won in the 12 months until I was discharged the money would go to my estate and even offered for them to keep them until I was discharged and then sell them back to me. The official receiver has refused. They are in the safe and are to be cashed in. They say I am unable to buy them back. No reason has been given, even the clerk I spoke to didnt understand why I wasnt allowed to buy them or why a reason was not given. Can you help please I am really upset this one momento of my grandmother is about to be disposed of for the sake of a measley £2. It doesnt make sense as the official receiver is offering to sell me his share in my house for £1 yet he wont sell these back to me. Can anyone advise, thanks

Comments

  • fiveyearplan
    fiveyearplan Posts: 10,144 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Its a bit late in the day but do you think the OR would have found out you had them if you hadn't told him?

    I don't think there is any way for you to get them back at this stage. Sorry.

    :j :j


  • midlandlady
    midlandlady Posts: 14 Forumite
    yes I wish now I hadnt told them I was trying to be honest but obviously honesty doesnt pay. I have co-operated in every way with the OR and in speedy time, now I will be a bit more laid back, he can wait for anything else he wants, seems so petty to me
  • mysterio_2
    mysterio_2 Posts: 525 Forumite
    500 Posts
    Sorry...I lost a couple of £1 ones as well

    the official line is here

    31.5.32 Premium Bonds and other National Savings investments
    Premium bonds can be purchased by anyone aged 16 years or over, and can be bought in the name of someone under the age of 16 years by parents, grandparents or legal guardians. Each bond costs £1, the minimum holding being £100 ( £50 if buying by monthly standing order ) and the maximum is £30,000. Each month a draw is held with the chance to win cash prizes. The Official Receiver should request National Savings to provide the necessary form to complete so that bonds can be cashed in, which should be returned by the official receiver with the bonds. On redemption, the face value will be received, together with any unclaimed winnings. Any winnings should be treated as being part of the bankrupt's estate.
    All premium bonds should be cashed in by the official receiver, however small the face value. See also paragraph 31.5.33.
    Details of other investment products issued by National Savings that a bankrupt may hold can be found at Annex A.
    31.5.33 Encashment of premium bonds or other National Savings investments

    To cash in bonds or savings certificates National Savings will provide a form. This will usually be sent when they confirm a holding. A different form will be provided should the bond document or savings certificate be missing. National Savings requires all enquiry letters to be signed personally by the official receiver. No enquiries will be processed without the signature of the official receiver. All enquiry letters should be sent to the following address: Mr J McNair
    Compliance Manager
    5th Floor, Wing D
    National Savings & Investment
    375 Kensington High Street
    Charles House
    London W14 8SD
    If the account requires that notice be given before closure, then the official receiver should give that notice rather than forfeit any interest due.
    Friends help you move. Real friends help you move bodies.
    :p
  • dalip
    dalip Posts: 7,045 Forumite
    Take it higher. This is ridculous. PM JSC1 and she may be able to help.

    I had £28 in a joint savings account and my OR never touched it,but then richard_s had a £1 premium bond and they snatched that. Another of the inconstistency's between OR's.Dx
    Free impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
    Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D
  • midlandlady
    midlandlady Posts: 14 Forumite
    Hi, thanks, I am not sure how to find JSC1 to PM please can you advise, thanks
  • I am assuming that some premium bonds may have a small wiin that the owner didnt claim of know about
  • dalip
    dalip Posts: 7,045 Forumite
    I have sent you are pm with a link hope it helps.Dx
    Free impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
    Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D
  • JCS1
    JCS1 Posts: 5,335 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I believe it is policy that they are to be cashed in, however small the amount, and that there is no mechanism in place to buy them back. I'm guessing the problem is what happens if the premium bonds win a large amount after discharge and the OR has sold them back at face value.

    But, given the sentimental value, I would try a phone call to your OR's office and ask to speak to the Assistant Offcial Receiver assigned to your case, got to be worth a try.
  • nervousmother
    nervousmother Posts: 2,885 Forumite
    Part of the Furniture Combo Breaker
    Would it not be worth offering more than they are worth? I know if you were dealing with a Trustee he would jump at the chance but I guess OR's are not as money hungry :-(
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