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Monday, 16 July 2012 05:20

What Happens If I Win The Lottery And Have Gone Bankrupt?

Written by  Jon
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What happens if I win the lottery and i have gone bankrupt?

Answer:  If you have gone bankrupt and win the lottery you are obligated/required to advise the Official Receiver handling your bankruptcy of the windfall.  They can take the winnings for the bankruptcy. If your winnings exceed the amount of debt you had, and also the OR's fees, you can be given any remaining winnings back.

 

Unfortunately until your bankrutpcy has ben discharged, if you were to win the lottery, you would need to report this to the OR.  I am not talking about wining a fier or £20, but if you were to win a substantial sum.

 

I hope this has answered your question.

For more information and assistance, please complete our eligibility form at our web site www.bankruptcy.org.uk or ring us at 0800 690 6855.

Regards,

Jon

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