All Forums  archive  Forum Questions  After much discussion it looks 100% certain we will file for bankruptcy

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by hopeful77[/i] [br]After much discussion it looks 100% certain my wife & I will file for Bankruptcy; however I need help on something. We set up a voluntary payment plan through a charity in March & all was well, however in the space of 6 weeks, I lost my job, our washing machine blew up, our cooker stopped working & to cap it off during a storm we had a tree fall down, wiping out both ours & our neighbours fencing (An exclusion on home insurance, thanks!) leaving us to pay for the damage &d the tree to be removed, not cheap! During this period we had to use an old credit card with no balance (Not included in the payment plan) on to survive & pay for all of the above. Fast forward to the present we have been offered a sum of money from a relative unaware until now of our problem. This sum would clear the balance & enable us to pay for the Bankruptcy. Now I think clearing the balance to zero would be the best option, but is the option that the courts would want to see? How would the OR interpret the events that led to balance being accumulated & would it look better clearing the balance before Bankruptcy? If not, what would be the best use of the money in the courts eyes? Now both my wife are aware that we shouldn’t of done this, however after studying the terms of our payment plan we should have advised them if we wished to enter into a new credit agreement. However this card was taken out before we entered our plan, what I’m getting at is, although it doesn’t mention it anywhere, can I be prosecuted for this? Spending was purely for the emergencies above, not lavish holidays or a brand new 3D TV etc. We didn’t use it with a view to not paying it back, as I was about to get a job, which would enable both the payment of the old card & also for us to start paying back our other creditors with the contractual minimal payments & get off the payment plan, in short life was about to get rosy, however after broken promises etc. this never materialised. Any help would be great. [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.