| T O P I C R E V I E W |
| Hazel.ht |
Posted - 10 February 2011 : 14:17:41
I owe £38000 to various creditors. 3 years ago a family member lent me £4000. I paid him back. If I apply for bankruptcy, will the OR contact that family member to reclaim the £4000 he lent me and put it in the 'communal pot'? This is what CCCS have told me will happen if I go bankrupt. |
| 6 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 10 February 2011 : 23:07:31
one can never say what they would definitly do, but they woud possibly have the option to, but there are many factors that the OR considers |
| Hazel.ht |
Posted - 10 February 2011 : 22:34:23
thank you. so if go bankrupt this month or next month,the OR will definately ask for the money back? |
| debtinfo |
Posted - 10 February 2011 : 22:24:52
The OR can only reverse Preference payments to family members if you go bankrupt within 2 years of the repayment |
| Hazel.ht |
Posted - 10 February 2011 : 20:12:03
quote:
Originally posted by debtinfo
when did you pay them back
I paid it back in May 2009. |
| debtinfo |
Posted - 10 February 2011 : 18:22:11
when did you pay them back |
| Richard P |
Posted - 10 February 2011 : 14:30:21
Hi Hazel
you cannot show preferential treatment to one creditor over another.
it depends when you knew that you were insolvent and the time frame involved.
CCCS are correct in certain circumstances
I would email or telephone one of the experts direct with a resume of time scales.
Richard |
