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John
New Member
United Kingdom
73 Posts |
 Posted - 10 September 2008 : 14:42:21
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Hi
it's a rental much the same as a TV.
There is nowhere on the SoA to enter the fact that you have a rented TV - although one per household is allowed in respect of expenditure.
So it does not need entering anywhere.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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dazed and confused
Junior Member
United Kingdom
475 Posts |
Posted - 10 September 2008 : 14:51:38
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| So I guess it would need to be put down as a monthly outgoing in the Expenditure section? |
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dazed and confused
Junior Member
United Kingdom
475 Posts |
Posted - 14 September 2008 : 19:57:03
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I have a double problem with my bike situation as I also intend on going out to Canada for a year in January to be with my partner and hopefully get work, but I think I may have a sloution for my bike problem.
I spoke to the Finance section at my work and they ahve said that I will need to either pay for the 12 months that I am away from work out of my wages over the next 3 months, or alternatively offer them a lump sum out of my final salary before I go on the year Career Break.
Obviously, the OR would not approve of me giving a lump sum for a bike but my sister has very kindly offered to pay for it - would this be ok with the OR? |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 15 September 2008 : 05:02:51
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Hi D&C,
If this payment is being made by a 3rd party, the OR won't have an issue. However, note you will have just acquired a brand-new £500 asset the OR may take an interest in.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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dazed and confused
Junior Member
United Kingdom
475 Posts |
Posted - 15 September 2008 : 11:20:17
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Hi Julian
Yes I was kind of worried about that too.
Technically, it wouldn't be mine though as the rental agreement is over a period of 18 months so the bike would not be officially mine until around March 2010.
So I am guessing that they would not be able to touch it?
I am not saying this because I don't want the OR to take it, I am just really worried about what my work would say. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 15 September 2008 : 12:27:56
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Hi D&C,
Although it may seem like a good deal, knowing you're going BR would mean it's a very bad idea. The OR will smell a rat and you run the risk of them investigating further. Best to quit while you're ahead.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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dazed and confused
Junior Member
United Kingdom
475 Posts |
Posted - 15 September 2008 : 12:37:08
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Hi Julian
The problem I have though is that I have already entered into the rental agreement for the bike. It was arranged back in July. At that point I was thinking of possibly going into an IVA or a DMP which is what I am in now (DMP).
Could you explain further what you mean by best to quite while I am ahead please?
I think I really need to talk to someone again about my whole situation. Would this be possible please?
Thanks |
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Bike Loans and BR...
