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jilly51
Junior Member
United Kingdom
186 Posts |
 Posted - 13 May 2008 : 21:19:42
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Hi i have been bankrupt since sept 2007 and have been put forward for a early discharge,I lost all my life insurances when i went bankrupt due to me not being able to pay the OR the money to buy them back,what i would like to know is,when am i able to take out life insurance's again without a problem,would i have to wait until i am completly dischared after 1 yr or after early discharge,i really need life insurances but i do not know when i will be able to take them out,or do i still need to tell the OR even once iv been discharged
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melanie_giles
Senior Member
1191 Posts |
Posted - 13 May 2008 : 22:41:43
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Hi Jilly and welcome to the forum
I can see no reason why you could not obtain suitable life insurance at any time, regardless of your discharge from bankruptcy.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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stuffed
Junior Member
182 Posts |
Posted - 14 May 2008 : 15:18:18
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I wonder if anyone can answer a question. We have a life insurance policy but there is no money in it. It does however pay out if one of us dies.
Does this mean that it will be cancelled and we will have to get another policy?
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Tess
Junior Member
United Kingdom
219 Posts |
Posted - 14 May 2008 : 18:27:57
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Yes I need to know this too I declared bankruptcy on tuesday but didn't put down my life policy because it has no monetary value unless I die and if payments are not kept up then it will lapse was this right or wrong.
Should I tell the OR about it.
Tess |
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Tess
Junior Member
United Kingdom
219 Posts |
Posted - 14 May 2008 : 19:58:18
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| any coments would be apreciated |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 14 May 2008 : 20:01:09
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Hi Tess and Stuffed,
These will be fine they are an allowable expense in Bankruptcy as well.
The only time it would effect you is if your respective partners died and you were to receive the payout during your Bankruptcy as this money would then vest in the trustee.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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when can I take out live insurance again
