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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11125
Experience:  30 years as a practising solicitor.
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Sequestration Scotland I was declared bankrupt on 1st

Resolved Question:

Sequestration Scotland
I was declared bankrupt on 1st October 2016. An Account in Bankruptcy was appointed and I went through my Statement of Undertakings with them. I have no income and no savings. I have completed the six-monthly update with them in which my circumstances remained the same.
Since then I have discovered I have found out about an employees pension which I had forgotten to include. This pension accrued during 1976 to 1980 and I had no record of it. I discovered it when I was applying for pension credits. However, this pension fund has now accrued a lump sum value of approximately £26,000
Since June this year, my personal circumstances have changed. I have been asked to leave my current address where I was living rent-free and am looking for rented accommodation and, as I am living on a state pension of approximately £550 per calendar month I am finding it extremely difficult to make ends meet.
Should I declare this retrospectively to the Account in Bankruptcy and what woukld the implications be?
Submitted: 11 months ago.
Category: Law
Expert:  JGM replied 11 months ago.

The law says that you should declare this to the Accountant in Bankruptcy. It is a criminal offence not to. If you did nothing and waited until your bankruptcy is over and the AIB closes the case then, yes, no one might ever know but it is a risk that you take and not one that I can advise. I hope that helps. Please leave a positive rating so that I am credited for my time.

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