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| T O P I C R E V I E W |
| xmas baby |
Posted - 14 September 2010 : 15:36:16
Good afternoon,
I just had a query I wondered if anybody to clear up for me. When you talk about preferential treatment of creditors would this include making different payments amounts to individual creditors? Before I declared bankruptcy, I had several creditors, all of whom were paid differing amounts to one another each month. I would have thought this could be construed as preferential treatment with regards the differing amounts? I'm not worried about it, just would be interested to know how this is viewed.
Thanks
xmas baby |
| 4 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 14 September 2010 : 18:09:00
It is rare for the OR to consider a commercial creditor for preferential payment, This is probably just practical as they are involved in nearly every bankruptcy, you would just take it off them in one case and give it them back in another case. The exception would probably be for instance if they were paid a large amount and other say local suppliers lost out because of this. I can see the OR chalanging it in those circunstances |
| gettingoutofdebt |
Posted - 14 September 2010 : 16:55:58
Provided you paid all of your creditors then there won't be a problem i.e. paid the minimum repayment on one credit card (CC) but paid a higher amount to another. If you paid a higher amount to one CC and then couldn't pay the other CC then there could be problems. |
| Bigal4787 |
Posted - 14 September 2010 : 16:09:07
Unless the differing amounts were very large, they wouldn't be viewed as preferential. Preferential payments usually comes in for instance, if you owed money to a relative or friend along with other creditors, then paid the relative or friend off, before becoming bankrupt, as that would be viewed as improving their position.
Big Al |
| RHB |
Posted - 14 September 2010 : 16:02:19
I think of you paid something to all of them even if the amounts are different then all should be fine. If you paid all of one loan off & none of the others it might be a different story. |
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