| T O P I C R E V I E W |
| Christine.09 |
Posted - 27 March 2014 : 11:01:13
me and my husband were declared bankrupt in 1994. We had endowment policies at the time which had no value. Our trustee returned the original policies to us and told us he had no interest in them. We let one lapse but continued to pay into a small one which is due to mature now. its value is only £2220. on the release form it asks if we have been bankrupt. As we have does this mean the trustee will receive the money or as he returned the policy to us will we be able to keep it..we have been paying in for the last twenty years believing that it will be our money. |
| 7 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 27 March 2014 : 21:52:02
I think that she will be able to keep the money but who knows these days?
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
|
| pcoventry2 |
Posted - 27 March 2014 : 21:36:12
You paid in for 20 years and it's only worth £2220? something wrong there.
I would have thought that after 20 years you wouldn't have a problem keeping this money. After all isn't the longer you can be under the OR if there is foul play 15 years?
If it was me I would say " yes 20 years ago" they shouldn't care. |
| Niobe |
Posted - 27 March 2014 : 12:44:51
Fingers crossed that you can keep the money!
Let us know how you get on.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
|
| Christine.09 |
Posted - 27 March 2014 : 12:37:12
Yes will answer truthfully that we have been bankrupt.. I have just phoned OR office and they said to write in and they will look up our paper records.. will be cross if they take money as wouldn't have bothered paying in for the last 20 years if they had told us they have an interest. The fact that the policies were never mentioned again after they had been returned made us think they belonged to us.
|
| Niobe |
Posted - 27 March 2014 : 12:12:14
You will still have to answer that you have been bankrupt but I would think that the fact that the trustee sent the policy back to you that it would be ok.
Might be worth an anonymous call to the company just to check?
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
|
| Christine.09 |
Posted - 27 March 2014 : 11:48:55
No we didn't receive any paperwork regarding the policies from our trustee. From what I can remember he just said there would be no value in them and gave them back to us ..he didn't mention future payments or anything like that. I have the 'statement showing position of estate at date of trustees application for release' as trustee and there is no mention of the policies.
|
| Niobe |
Posted - 27 March 2014 : 11:34:57
I would think that you would be ok after all this time. The trustee had no interest in it.
Do you still have paperwork telling you this?
You will have to answer truthfully that you have been BR.
Personally speaking I think you will be ok but perhaps one of the experts will be able to advise further.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
|
