Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
john_n
Posted - 03 October 2008 : 06:41:31 I could not make my minimum monthly payments, so I took out cash advances. That is, I borrowed from one creditor to pay another. It is obvious that I took the advances to postpone the inevitability of bankruptcy. Will it be clear to that I was not trying to borrow money and hide it and disqualify me for backruptcy?
2 L A T E S T R E P L I E S (Newest First)
JulianDonnelly
Posted - 03 October 2008 : 12:46:26 Hi John,
Don't be too concerned. The OR knows that everyone will exhaust all lines of available credit before going BR.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
Needafriend
Posted - 03 October 2008 : 07:11:21 Hi John
Welcome to the forum
It sounds very similar to many to rob peter to pay paul.
The worst an OR could impose would be a BRU Bankruptcy Restriction Undertaking or a BRO.
If your insolvent then you should be able to go Bankrupt.
Have you spoken to our helpline or done the calculator and allowed someone to call you with regard to the options about for you :-)
Good luck
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriend's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
