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| andrew.m |
Posted - 30 August 2008 : 10:06:00
im busy with my statement of affairs, the section with regards to car disposal, i sold my car and used the cash to pay off a creditor, the section asks for finance details, it was a personal loan, also it asks for any outstanding finance, when i put 00.00 it rejects it and says it must be correct to 2 decimal places? for what its worth i got what i paid for it
HELP!!
also with regard to credit cards it asks when did i take them out, in all honesty i have no idea, do i have to provide this info?
thanks
andrew |
| 9 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 30 August 2008 : 15:32:14
Hi Andrew,
I can see what your saying you did what you thought was right at the time and like John says it could be seen as preferential treatment.
We all do things to try and make life better and dont really think about them until we start looking at the legal side of BR and then whoosh it hits us straight between the eyes.
I would just make sure that whatever you decide about writing it in that you add it on an additional piece and explain that you thought you were doing the right thing and again that you thought it was better to clear 1 creditor and not have a fancy car.
What more can you do.
Take care, enjoy the sun.
Jo
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| andrew.m |
Posted - 30 August 2008 : 13:25:54
ok, i must have mis-read it, i just figured it was better to pay a creditor than drive around in a fancy car |
| Needafriend |
Posted - 30 August 2008 : 12:38:09
Ooooops John,
I messed up. I deserve a slapped hand. Oh well im still learning. :)
JO
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| John |
Posted - 30 August 2008 : 12:32:36
Hi Andrew
others on here will tell you that I'm easily confused so don't be surprised but.......
You disposed of a vehicle within the last 12 months and paid a creditor.
For your info that is preferential treatment and the OR has the power to undo the transaction, recover the payment, and the money would then be paid pro rata to all of your creditors.
Where I am confused is that you go on to mention finance. I don't have a copy SoA here with me to check the wording but I think the questions related to car finance are on vehicles you still possess not ones you have disposed of.
This is purely from memory but disposed of vehicles are Q3.8 and currently owned is Q3.9.
Either way if you bought the car with a personal loan then the car technically wasn't on finance.
Car finance is secured borrowing, the finance being secured on the car.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| Needafriend |
Posted - 30 August 2008 : 11:55:41
You are very welcome Andrew, thats what myself and others on here are for, and im glad that i changed my mind and came back!
We want to help you through your bad and good times and help you to look forward, past the worries and uncertainties and get on with your new debt free life.
Please keep on posting and i will where I can answer them, and if i cant then i know some men who can!
JO :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch" |
| andrew.m |
Posted - 30 August 2008 : 11:49:37
what a lovely caring reply, have a really nice weekend!
xx |
| Needafriend |
Posted - 30 August 2008 : 10:22:51
Hi Andrew,
We are all in a same or similar boat. As long as you did not go out recently and buy a new car or a picasso painting and it was for more of less essential living then it may not be as hard on you.
The best ones to ask about that would be John or Julian they have more knowledge, but again its all circumstancial stuff, no one wants to go BR but like you have pointed out you have no choice and so you must do what is right for you.
When you fill out your form add on the additional piece of paper the whole story, there is a piece that asks what has lead to hthis and you could explain it all there.
But Andrew do remember that you are not alone, we are all here for you.
It is an emotional rollercoaster and it comes with highs and lows and whenever you need someone just post on here and we will be your friend in times of need. :)
Jo
"There is light at the end of the tunnel, if you cant find it get a brighter torch" |
| andrew.m |
Posted - 30 August 2008 : 10:17:06
i could always ring the companies up, i have just recently decided to go BR due to events beyond my control, will the OR take a dim view of my spending in the last month or two, i honestly had no intention of declaring bankruptcy but my hand has been forced |
| Needafriend |
Posted - 30 August 2008 : 10:11:14
Oi cheeky,
Morning. try putting just a single 0 in the car bit. May work not sure.
Also with regard to the dates put what you think it was if the OR needs the exact date they can obtain that, its only to give a rough idea.
Jo
"There is light at the end of the tunnel, if you cant find it get a brighter torch" |
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