Savings and winning the lottery after discharge

Hiker

I was discharged from Bankruptcy this month it was an automatic discharge. I was wondering if I can open a savings account and put money into it without having to let anyone know, I mean as I'm discharged does it mean nobody is checking up on me anymore for what goes in and out of my account? The same question for what if I win the lottery (fat chance I know but it would be a great break for me to finally be able to afford a house with my partner)
Hope someone can help and thank you in advance.

woodformoretrees

Hiker,
Well done on getting your AD. Do you have an IPA/IPO?
If you do then you'd need to let them know of your (definitely going to happen) lottery win/excess monies.

fermi

Lottery winnings cannot be claimed after discharge or under an IPA/O. Only way the OR can get their hands on any of it is if you have an IPA/O and put it in the bank/invested etc and derive an "income" from it, that you would have to declare as income. The actual capital asset of the lottery win is not claimable by the OR post discharge.

Saving post discharge are none of the OR's business. Only time they could be is under an IPA and if the OR thought you were amassing them because you had surplus income you were not declaring. If no IPA/O then it will never be an issue.

antrobus

Hiker wrote: »

I was discharged from Bankruptcy this month it was an automatic discharge. I was wondering if I can open a savings account and put money into it without having to let anyone know, ......

Discharge from bankruptcy releases the bankrupt from his/her debts (except, for example, any relating to fraud, fines and maintenance payments).....If a bankrupt is entitled to an automatic discharge there is no formal application or hearing at court necessary for discharge to be granted. This means that on the anniversary of the appropriate date, the individual is discharged from bankruptcy.

http://www.insolvencydirect.bis.gov.uk/casehelpmanual/D/DischargeFromBankruptcy.htm

Thus if you have reached the anniversary of the appropriate date "this month" then you are discharged. You are released from your debts and any lottery win would be yours to keep etc.

Hiker

Great thank you so much for the replys. I do not have any IVA/IPO's cos at the time of going bankrupt I had no surplus moneys or anything. It's amazing how quick the 12 months have gone as I thought it was going to be a lifetime. I know that it stays on my history for about 6 years but just knowing that I can start trying to rebuild my credit again is fantastic! Thanks again guys for your advice.

woodformoretrees

Hiker wrote: »

Great thank you so much for the replys. I do not have any IVA/IPO's cos at the time of going bankrupt I had no surplus moneys or anything. It's amazing how quick the 12 months have gone as I thought it was going to be a lifetime. I know that it stays on my history for about 6 years but just knowing that I can start trying to rebuild my credit again is fantastic! Thanks again guys for your advice.

Actually, I just read 'the internet' and it does say that you have to divide any future lottery winnings between people who have replied to your forum question. Yep. Yes it did.

Hiker

woodformoretrees wrote: »

Actually, I just read 'the internet' and it does say that you have to divide any future lottery winnings between people who have replied to your forum question. Yep. Yes it did.

Haha brilliant! the best I could do is send you a postcard I'm afraid! Lol