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What happens if I win the lottery while I’m in debt?

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Many of us daydream about winning the lottery one day, and all the things we’d spend the winnings on. But what happens if you win the lottery while you’re on a DMP, IVA or have gone bankrupt? 

The chances of winning the lottery are approximately 1 in 14 million. However, many of our clients still opt to try their luck in case their numbers come up.

However, what would happen if you were on an informal or formal debt plan and you won some unexpected cash? Well, it’s a hard one to answer concisely, as different debt solutions are affected in many different ways…

hands in the air

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What happens if I win the lottery while I’m in debt?

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Check those numbers

A way out for those in debt? Probably not…

Friday’s EuroMillions draw is for a cool £23 million. Only last week a couple from Cambridgeshire won £101 million. But what happens to you if you win the lottery while you’re in a debt solution?

It’s a tongue-in-cheek comment we hear numerous times a day when we’re sorting out a client’s budget and ask if they’re due to come into money in the next 12 months.
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