| T O P I C R E V I E W |
| Essie |
Posted - 10 July 2012 : 17:52:28
Hiya,
I'm not sure if this is one that anyone can help me with but any advice would be appreciated.
I went BR in March 2011 and received AD this March. I think the OR forgot about me as I didn't get an IPA (not that I had any spare DI anyway).
I owed my mum and dad about £28k - although this wasn't listed on my BR paperwork as I didnt know if I could put it down or not. The OR was aware that I owed the money to my dad as we discussed how me paying any money to him prior to BR was favouring one creditor over another.
Does anyone know for definite if the loan would have been written off with BR? or how I could find out?
My dad was an accountant and was charging me interest so it was def a loan :(
Any advice would be appreciated.
Many thanks
E x
Finally got head out of sand in October 2010
BR March 2011
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| 13 L A T E S T R E P L I E S (Newest First) |
| year 2029 |
Posted - 11 July 2012 : 13:33:06
xmas baby,
I'm guessing it was left in as you never know when a debt is going to be paid, or, rather sensitively, when you are going to pass away.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
| xmas baby |
Posted - 11 July 2012 : 11:54:22
Hi Essie,
I don't want to get involved with this rather sensitive issue, but I wondered why your father didn't just leave you £2,000 rather than £30,000. That way you will have paid back the £28,000 debt you owed without all of this complication and been £2,000 clear.
xmas baby |
| year 2029 |
Posted - 11 July 2012 : 11:40:11
Like you say RHB, usually its the solicitors who benefit, so a compromise might be the quickest solution.
Families are never easy are they?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
| RHB |
Posted - 11 July 2012 : 09:27:23
Who would the money owed go to - your brother? I would fine a compromise else by the time the solicitors have sorted it all the money will be in their pockets!!! Maybe take half the money say - plenty to start off with with your new baby & remember you are debt free now. |
| year 2029 |
Posted - 10 July 2012 : 22:34:30
hi Viki,
That's why I asked about family members, the potential for it be complicated and sensitive.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
| Viki.W |
Posted - 10 July 2012 : 20:11:08
I think this is quite a personal one Essie.
I am in a similar situation as in my Dad stepped aside when I did my IVA, and I am repaying him now, so in his will, my brother will get more as there would have been more in the "pot" if I hadn't borrowed it in the first place. I'm happy with this.
It's different in bankruptcy as the debt is technically written off, but obviously it's very awkward for you with the problems you're having with family.
Sorry, my post isn't helpful, I have no advice on this one.
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 |
| Essie |
Posted - 10 July 2012 : 20:06:01
My brother thinks it should be deducted. But that's only because he is a horrible person who likes to see me suffer. I think it's doubly unfair as he was given 30k to buy a property and also gets his full inheritance but i wasnt Sorry to whine like a spoilt child!!
Finally got head out of sand in October 2010
BR March 2011
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| year 2029 |
Posted - 10 July 2012 : 20:01:32
I can see this getting complicated with solicitors!
Your original loan should be written off in your BR.
As you owe nothing....there should be nothing deducted.
Are there other family members wishing for it to be deducted?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
| Essie |
Posted - 10 July 2012 : 19:27:46
But what if he's saying the amount owed is to be deducted but there is nothing owing? That is very unfair.
Finally got head out of sand in October 2010
BR March 2011
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| debtinfo |
Posted - 10 July 2012 : 19:24:17
Well technically the debt does not exist so cant be deducted as such, but it was his money so he can decide how much to leave you and if he wants to leave you less because he was not repaid before then that was up to him |
| Essie |
Posted - 10 July 2012 : 19:17:31
Sorry, forgot to say, the solicitors are going ahead with dad's request. Should I let them
Know about the br?
Finally got head out of sand in October 2010
BR March 2011
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| Essie |
Posted - 10 July 2012 : 19:15:51
My problem is my my dad died and left me 30k in the will (he died after AD). In the will it said the money i owe should be deducted from the money he left me. It seems unfair and I want to challenge it. ESP as it should be written off by the bankruptcy.
I'm not greedy or money grabbing. I've found out I'm
Pregnant and that would really help buy the things I need and support me until I find a part time job after the maternity leave finishes.
Thank you for your help,
E x
Finally got head out of sand in October 2010
BR March 2011
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| debtinfo |
Posted - 10 July 2012 : 18:50:14
Yes the loan is written off, it must not be paid back.
But since you are discharged and not subject to an IPA then you can do what you want with the money (apart from pay creditors) so if you wanted to you could give away money to anyone you wished to |
