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bankrupt and just won compensation question
murr4y08
Posts: 4 Newbie
hi there , im new here, i have a question and a problem that has just occurred , i was declared bankrupt in april i was unemployed at the time and split from my long term partner of 12 yrs , i have now found out i have won £53,000 in compo for an accident at work several years ago that has left me with a slight disablity in my right arm and frakly lucky to be walking , will i lose this money , now im bankrupt for 25 k b , after legal expensies im clearing 40k . i never expected this to happen now my heads a mess i dont know what will happen , can the money be paid to my dad instead ??? , , the money is partly to cover mediacal bills for the future and medication so losing it will be a doube let down ,
i only expected a few thousand maybe 5 max now this has happened im ment to be delighted my pain was worth something now im scared its all for nothing
i only expected a few thousand maybe 5 max now this has happened im ment to be delighted my pain was worth something now im scared its all for nothing
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Comments
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Pain and suffering you'd be allowed to keep....ANY loss of earnings the OR (official receiver) would take (so depends how long off work really)
although with the cash you could have bankruptcy cancelled & pay off creditors?We all die. The goal isn't to live forever, the goal is to create something that will0 -
my lawyer has told me my loss of earnings is only 700 pounds due to an old job i had since them making me a few quid . thanx for ur reply , i know i could cancel out my bankrutcy but i really dont want to be clear and building new debt , wold rather stay bankrupt and not be able to have any credit avalible0
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i was off work for 6 months then had to change they work i did for a living , i cant lift heavy stuff now so ended up working in cal centres instead of builing sites ,0
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Even after your debts are cleared you would still have a lump sum left over, it would be better for the future if you didnt have bankruptcy hanging over you. Might be best to get some legal advice.0
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Either way you have to tell the Official Receiver when the money arrives.0
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In fact you should tell the OR now with the solicitors details, In fact you should have told the OR when you went bankrupt that you had a claim being processedHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0
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