Lottery win when bankrupt.

dojoman

Ok, good luck with finding a job, hope you find one quickly

alastairq

Regarding the lottery win scenario?

If one won a vastly significant sum, post Discharge..one has to consider whether it really matters a damn if one has a BR on one's credit files?

Especially when one considers that all creditors would have already been dealt with equitably? [the purpose of BR?}

TheGardener

I'm with alastairq on that one - if you won a life changing amount of money on the lotto - then who cares whether you have a bad credit record - you wont need credit and can happily buy a house and pretty much anything else you want without a mortgage.
Saving up to pay to annul a BR seems to rather defeat the object of the exercise ....

wharty

TheGardener wrote: »

I'm with alastairq on that one - if you won a life changing amount of money on the lotto - then who cares whether you have a bad credit record - you wont need credit and can happily buy a house and pretty much anything else you want without a mortgage.
Saving up to pay to annul a BR seems to rather defeat the object of the exercise ....

I see your point, but part of me would want to pay my dues. At the end of the day i borrowed the money and failed to give it back.

It was a theoretical question though like i said in the original post.
My later thoughts though were if one of us could have our bankruptcy annulled by saving up and paying, then it may be worthwhile in the longterm.

TaxAvoider

I asked a similar question, how can we find out the total amount we owed and the amount paid out to the creditors over the period ? is there a central place that will supply this info ?

Would there be any point in "annulling" it after the six years anyway ?

TheGardener

Hi wharty - I do understand where you are coming from though - Maybe this is about moving on - maybe the BR is a point where you can only move forward and there is rarely much value in re-visiting the past. If you and your OH were lucky enough to win on the lottery - perhaps you could restore some natural justice by sharing some of your good fortune with others who need help. I believe a good deed wherever done can help redress mistakes in the past.
I've already decided that if I ever won squillions on the lottery I would support my local credit union in some way and other financial education charities

sort_me_own_yard_out

I wouldnt even need millions to make the amount life changing, enough for me to a buy a decent roof over my head rather than ahving the insecurity of renting of private landlords would do me just fine!!