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Pension during Bankruptcy

Shado_3
Shado_3 Posts: 2 Newbie
in Bankruptcy & living with it
I'm out of work so I've applied to take my company pension early in the form of a lump sum plus a reduced weekly pension paid into my basic bank account but I still have 3 months left on my Bankruptcy.
Can anyone please tell me who must inform OR? The pension company the bank or is it for me to inform them?

Comments

  • debtinfo
    debtinfo Posts: 7,012 Forumite
    You must inform them and they will claim the lump sum. can you not put it off until the bankruptcy ends
    Hi, 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.
  • Shado_3
    Shado_3 Posts: 2 Newbie
    thank you for the quick reply:), Just sods luck I can claim it now but the law says I must claim it before 6th April or I have to wait another 5yrs till i'm 55 before I can make a claim for my benifts again. but if I will lose the lump sum i will try to put it off.:(
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    sorry for the bad news
    Hi, 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.
  • sofakid
    sofakid Posts: 3 Newbie
    debtinfo wrote: »
    You must inform them and they will claim the lump sum. can you not put it off until the bankruptcy ends

    Don't tell the receiver! you might be dead in 5 years, just get it and spend it :beer:
  • sizzler
    sizzler Posts: 5,094 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    sofakid wrote: »
    Don't tell the receiver! you might be dead in 5 years, just get it and spend it :beer:

    bad advice i think:)
  • sofakid
    sofakid Posts: 3 Newbie
    I don't see the problem?, if He/She has 3 months to go and it's down to the bankrupt to tell the receiver, just take the money from the bank, don't spend it, wait till the 3 months is up!... If the worse comes to the worse hand over the money!.
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    im not sure what you understand what the worse is
    Hi, 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.
  • sofakid
    sofakid Posts: 3 Newbie
    "if worse comes to worst". my bad
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    sorry i wasn't correcting your spelling, i meant you might not understand that the worst that can happen for non discolsure is further restrictions for up to 15 years and possible prosecution
    Hi, 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.
This discussion has been closed.
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