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

posted by in Living with debt 2 Comments

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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