Workplace savings

Jakdaniels94

Hi all,

Quick question. I am entrolled on my company share and savings scheme. Currently £30 per month auto deducted from my wages.

Would bankruptcy put a stock to this?

TIA

fatbelly

I can't see that would be a legitimate expense.

Plus anything in the fund would be cashed in for the benefit of your creditors

Morfx

Agreed with the comment above.

Once I declared, informed the OR I had around £3500 in a share save scheme. (Shares bought at 92p)

Also informed the OR that the company will be bought out within the next two years and would be worth holding the shares.

Shares were sold instantly @ 145p

A year later the company was sold with a share value of 410p

🤦🤦

Minkym00

Morfx said:

Agreed with the comment above.

Once I declared, informed the OR I had around £3500 in a share save scheme. (Shares bought at 92p)

Also informed the OR that the company will be bought out within the next two years and would be worth holding the shares.

Shares were sold instantly @ 145p

A year later the company was sold with a share value of 410p

🤦🤦

The OR doesn't speculate, they liquidate. Let's say there are creditors waiting to be paid a dividend from a bankrupt's estate, they may not be happy to hang on and wait even longer for your money on the off chance they may get more.