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T O P I C R E V I E W
tim01
Posted - 15 June 2008 : 14:19:13 hi - and another question!!
until reading through your forum i didn't realise there could be a problem with the money i borrowed a couple of years ago but then paid back in two parts to my sister-in-law last year and earlier this year.
when i repaid the money bankruptcy was the furthest thing from my mind so it was just a case of paying back money that i owed her. but since then (through no fault of my own - no rent arrears etc) i am now in the process of being evicted from my home of 20 years by my employers (the house comes with the job) and can't possibly afford to rent elsewhere and at the same time keep up with my financial commitments (so unfair!) - i just don't earn enough money to do both so bankruptcy seems the only viable option at this moment in time!
anyway, do you think the or will consider my sister-in-law as a preferred creditor and ask her to give the money back and if so, will she be allowed to pay in installments - it was £3000 and i will be petitioning bankruptcy for £47000.
thanks again for all the past advice.
tim
ps - do love your website by the way.
4 L A T E S T R E P L I E S (Newest First)
melanie_giles
Posted - 15 June 2008 : 19:40:01 But surely you have not borrowed £47k in that period? Although you may have been paying your creditors, was this on the back of more borrowed money?
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
tim01
Posted - 15 June 2008 : 18:37:58 melanie - although i have struggled all through my married life with repaying debt my current financial problems only started a couple of months back and coincided with the realisation that my employer is serious about evicting me and my family when the first court case (another employee but my turn is coming!) started in april.
melanie_giles
Posted - 15 June 2008 : 17:30:37 Were you insolvent when you paid the money to your relative? If so, the OR will almost certaintly ask for it to be repaid back.
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
Andy Davie
Posted - 15 June 2008 : 16:44:16 Hi It is very likely that the OR will insist that this is repaid but I am sure that the OR will accept a payment arrangement. Regards
