oversea life policy worth around £4000 has to cash up due to my filing bankrupcy petition next month. Planed to give it to my mum as her living expences for the coming year as my future income is uncertain, likely to get a Bru as it is me to blame for my position. Is this allow ? I dont have asset there, the money has dryed out in my oversea account. Pls advice if someone has come across this experian or question before, many many thanks.
when filing for bankruptcy in the UK the Official Receiver will claim all assets including your overseas life policy if you declare that the policy exists, or did exist, but has recently been cashed in.
If you choose not to declare that the policy has been recently cashed in and the Official Receiver is made aware of this in any way, you would be guilty of perjury.
oversea life policy worth around £4000
Posted - 19 December 2008 : 15:32:35
