How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Alex J. Your Own Question
Alex J.
Alex J., Solicitor
Category: Bankruptcy Law
Satisfied Customers: 3655
Experience:  Bankruptcy, liquidations, administrations, pre pack sales, re use of company names and director duties and offences.
13113900
Type Your Bankruptcy Law Question Here...
Alex J. is online now

I was bankrupt in 1998 and duley discharged. I had several

Resolved Question:

I was bankrupt in 1998 and duley discharged. I had several small pensions one with a value today of £4.500.00 and one with a value today of £33.000 how do I know if my trustee at the time has any interest in them as I would like to draw them down towards a mortgage ?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Alex J. replied 1 year ago.

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Normally pensions are excluded from bankruptcy. In any event any claim by the trustee would potentially be statute barred. Did the trustee inquire about your pension at the time? Presumably payments have been made post bankruptcy? Kind regards AJ

Customer: replied 1 year ago.
trustee DID NOT ENQUIRE ABOUT PENSIONS AND THESE HAVE HAD NO PAYMENTS IN SINCE BEFORE MY BANKRUPTCY, THE REASON FOR THIS QUESTION IS ONE OF THE PENSION COMPANIES ASKED IF I HAD EVER BEEN DECLARED BANKRUPT
Expert:  Alex J. replied 1 year ago.

Hi, Thank you. They may be obligated to write to the trustee concerned, but your pension will only form part of your estate in bankruptcy if excessive contributions were made to it. In what context are they asking the question? Is it to release the money? Kind regards AJ

Customer: replied 1 year ago.
TO RELEASE MONEY TO ENABLE ME TO GET A MORTGAGE RATHER THAN RENT A HOUSE WHICH I HAVE BEEN DOING SINCE MY BANKRUPTCY. GIVING MY WIFE MORE SECURITY AS WE ARE BOTH NOW IN OUR 60'S
Expert:  Alex J. replied 1 year ago.

Hi, Thank you. Do you know who the trustee is? As I have said the pension is not part of your estate in bankruptcy, but you do not want to risk having the pension company pay the money to the trustee. Can you ask the trustee to confirm in writing that they have no interest in your pension? Kind regards AJ

Alex J. and other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions