will the OR find out...

norserose

kw899899 wrote: »

just found out that i have received a £2000 inheritance having already gone bankrupt last week if i put this in my new bank account is it likely that i will lose it all? will the OR find out if i dont tell him???

do you usually have to submit your statements for your new account (opened after Bankruptcy) bfore your bankruptcy period is up?

any help is appreciated

(Why don't all the sane people on the board take a pledge to totally ignore the 1 sad troll who gets its kicks from being an !!!!! on this forum? If we don't speak to it, it can't argue. Well, it can with itself but that might be fun to watch. )

Anyway, back to the OP - I'm in a similar position to be honest. But I'm not sure how long that money's going to take to come through (sale of estates etc) so I'm saying nothing for now. And when it does finally come through I'm thinking that either it can be held on to by the executor until a point where I can have it, or it's going to be paid to my DP. If you arrange something like that you may not have to lose it. Or you could sit tight til it comes in and see what happens then. Or you could just bank it, tell the OR and see what happens. I suppose it's all down to personal preference!

Richard_S

savagevixen wrote: »

:rotfl: You know how to diffuse a tired foxy...XX

I'm just stroking your tense cyber tail Foxy, a gentle massage on your red fluffy belly and you'll be drifting off into foxy dreamland

wherediditallgo

kw899899, I can understand why you don't want to hand over the money, but I think you should if you can't deal with hiding it without other people's help. You've said that you'll see if you can get it in your boyfriend's name - obviously I don't know anything about your relationship, but if you look through this & the DFW forum, you'll see that a lot of relationships have gone sour following money issues. If you involve your boyfriend in this & then you split up, who's to say he wouldn't tell the OR what you'd done? You're taking the same risk if you involve a family member. If someone who knows about it (even if they weren't directly involved) decided to tell the OR, you could end up with a BRO, which would considerably extend your bankruptcy - they can extend it to 15 years.

I personally don't think it's worth not declaring it (it's money from a death, not a win on the races). But if you're not going to declare it, then deal with it yourself without involving others.

kw899899

thanks desperate mum for your input. as for the others- stop arguing guys!! i didnt want to start a WOB (war of the bankrupts), just wanted to know what others think about my inheritance. before i knew it we were onto donkeys, weight issues and problem childhoods! its time to draw a line in the sand and move on!

rog2

Hi again kw - You certainly seem to have received some mixed advice on this matter. It is a shame that it had not happened before your bankruptcy date, but I am sure that you really have nothing to worry about.
I think that it could be worth checking with the executor as to exactly the wording of the bequest - it may well be that the money may not be released until after your discharge date as probate tends to take a long time. I am not suggesting that you do anything illegal, but, perhaps, the executor may be able to suggest a solution.
I wish you luck and trust that you will make the right decision.

Richard_S

rog2 wrote: »

Hi again kw - You certainly seem to have received some mixed advice on this matter. It is a shame that it had not happened before your bankruptcy date, but I am sure that you really have nothing to worry about.
I think that it could be worth checking with the executor as to exactly the wording of the bequest - it may well be that the money may not be released until after your discharge date as probate tends to take a long time. I am not suggesting that you do anything illegal, but, perhaps, the executor may be able to suggest a solution.
I wish you luck and trust that you will make the right decision.

Well articulated Rog, as always,

Just thinking aloud, executors are invariably friends / relatives of the deceased; plenty of "wriggle room" I'd imagine.

Rich

rog2

Richard_S wrote: »

Just thinking aloud, executors are invariably friends / relatives of the deceased; plenty of "wriggle room" I'd imagine.

Rich

Would I even think of that - Rich? :rolleyes:

fermi

From: http://www.insolvency.gov.uk/freedomofinformation/technical/casehelpmanual/After%20Aquired%20Property/After-Acquired_Property.htm

After-acquired property is any property which has been acquired by or devolved upon the bankrupt since the commencement of the bankruptcy proceedings. Section 307 of the Insolvency Act 1986 allows the trustee of the bankrupt’s estate to formally claim such property by notice in writing for the benefit of the estate

When the bankrupt has been discharged these provisions will not normally still apply, although property which relates to the period before discharge, such as a bequest under a will where the individual who wrote the will died before the bankrupt’s discharge but the property was only received by the bankrupt after his discharge, can still be claimed by the trustee even after the individual has been discharged from bankruptcy.

Which suggests to me that trying to get the executor to delay payment would be a waste of time.

changkra

Broken_hearted wrote: »

Richard I totaly agree the law is a donkey (it wont let me say !!!) often favouring the big companies over the people. We had payment protection insurance to cover our debt it didn't pay out and we couldn't do a damn thing about it.

Then stop taking it out on everyone else on this board. Ive read quite a few of your posts on here, they leave a lot to be desired:rolleyes:

savagevixen

ManAtHome wrote: »

Strange thread - you seem to be falling into the "daily mail - bankrupts p*ss*ng it up the wall then starting again" stereotypes. I'm afraid my take on the OP is "I've stuck one finger up to my creditors, what's the best way to stick 2 fingers up".

Try looking at it from the other side - if somebody went bankrupt owing you a few grand then came into money, would you still defend their "right" to keep the cash?

To be honest, what you don't know doesn't hurt you. You are taking the moral highground somewhat unnecessarily. The OP simply wanted to know whether to tell the OR, or whether she could keep it. It is a fair question, and not really a lot of money. At the end of the day we are all just people and this money left to this person has been left for a reason, and I am damn sure the deceased would have left it to someone else if he/she had realised that the OP would not benefit at all, and the money would go straight to the OR. I am sure the deceased would have made sure this didn't happen.
So remember that at the heart of this, someone wanted someone to have a little gift to help them out. We can all judge and point the finger, but had the op received it pre-bankruptcy it could have changed her circumstances.