Official receiver, can he do this? Can I do that?

orfrankel

I have a pension of about £5,000 lump sum and £100 per month which I have been told the Official Receiver can look on as acquired income after bankruptcy if it is cashed in and take this money from me. Can he do this? Is there any way I can protect this money if I do cash it as I need more than I am getting from the Government in unemployment benefit to live on and meet various bills. I went bankrupt earlier this year.

The Receiver has been told about this money. What would happen if I took the money and did not tell him? Or spent some of the money and then told him. What kind of trouble might I get into?

Thanks.

Fran

danno_4

hi
or's a few years ago could not touch pension funds but that rule changed so now they can.iyou say he knows as he appraoched you for the money?that is the No 1 question.i can not help any more untill tat question is answered.
good luck
danno

moonlightpjs

You may be better posting this on the BR sub board at the top of the page but I do know that when my uncle made himself BR (aged about 35) he had to tell them about his pension fund - when he hits 55 and the pension is payable the OR will take the non-protected part of it - about £5k so he stopped paying into it and opened another one once he was discharged.

Hope this makes sense
Lisa xx