| T O P I C R E V I E W |
| Dylan.w |
Posted - 07 January 2012 : 00:53:37
I paid my sister £5000 back a month before my bankruptcy. She had originally loaned me £40000. The OR has now decided it was a preference payment and the trustee has employed a solicitor to recover the money. Obviously we are reluctant to repay the money and for the past 4 months have be speaking with the solicitor. My sister has proven she has no surplus income at the end of every month and cannot afford to make any repayments. They are now threatening to take the matter to court. What is the best cause of action as my sister does not want to go to court over the matter?
Thank you |
| 10 L A T E S T R E P L I E S (Newest First) |
| Blackie |
Posted - 10 January 2012 : 08:04:13
Hi Dylan.W
If I were you, I would, as Kallis mentions above, speak to the OR and make a lump sum offer to conclude this matter. It is more than likely that a lump sum will be accepted as opposed to a repayment plan as the OR would far rather have the money.
All the best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
| Dylan.w |
Posted - 09 January 2012 : 18:58:26
So do you think i should offer a lump sum or offer to pay over a longer length of time?
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| Niobe |
Posted - 09 January 2012 : 11:06:31
I think you will need to speak to the OR about this - they will be the ones who can help you out with the payments.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| Dylan.w |
Posted - 09 January 2012 : 10:46:33
I did dispute it but after an interview with the OR i was judged to of acted inappropriately and my bankrupcy term was extended proving it was a preference.
I have accepted that we have to pay the money back but just wanted some advice on how much and how? Would i be better offering say £3000 to sort it straight away or £20/£30 a month over a longer term?
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| Steve Thatcher |
Posted - 09 January 2012 : 10:09:37
It is likely that they will get a judgment here, as there is a presumption of a preference to a family member which you do not seem to dispute. I suspect that they will get a charging order against your sister's house to secure the judgment for settlement in due course.
Steve Thatcher
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| Dylan.w |
Posted - 08 January 2012 : 01:23:37
She has spent some of it but not all of it
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| debtinfo |
Posted - 07 January 2012 : 16:46:42
Has she spent it |
| Dylan.w |
Posted - 07 January 2012 : 14:15:41
Hi. I gave her the money in cash and we have told the solicitor she has spent it. She has a house as her only asset. Thanks
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| debtinfo |
Posted - 07 January 2012 : 10:16:31
also does your sister have any assets |
| Viki.W |
Posted - 07 January 2012 : 08:39:03
Hi Dylan,
What did she do with the £5000?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
