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| s10 |
Posted - 24 October 2008 : 15:56:50
Hi Everyone,
I have not posted for a while but I am starting to get very stressed and worried!!! I declared BR on the 30th June and after my intial OR interview a couple of weeks after that, I was contacted again by the OR about month ago to ask more details about the sale of my car, which 2 months prior to going BR, I sold and gave the proceeds to My ex girlfriend as I owed her money 1.for part of the car and 2.certain building work she payed for around the house. Why are they taking so long and do you think this will be a negative outcome for me??
Also as a rule is one allowed to rent thier house out(not making a profit) while they are declared BR?
Any comments will be most welcomed as I am starting to suffer from stress quite badly now!!
Kind Regards
S10 |
| 3 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 25 October 2008 : 16:20:09
Hey s10
Your more than welcome, anytime i can be of assistance give me a "SHOUT" :-)
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| s10 |
Posted - 25 October 2008 : 15:57:06
Many thanks JO!!
Your help is appreciated, and puts a better perspective on the situation.
Regarding the car the value sold for was approx 10K(not undersold)so has you say will have to wait and see.
The house is mine(well I have a mortgage) but there is no equity in the house with the current market. So again will have to wait and see if they make me sell(although cant see that if there's no equity)!
Once again thanks for your help.
S10
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| Needafriend |
Posted - 25 October 2008 : 13:14:38
Hi S10
As a general rule of thumb the OR may not have looked on your past transaction as favourable as you paid off one creditor (your ex girlfriend) over the others and it may and i say only may be a case of they need a little bit more time to sort that out. What amounts are we talking about here and did you sell the car undervalue as that too will set alarm bells ringing with the OR. This could amount to a BRU/BRO but it may be worth just sitting tight and wait and see, no good worrying about it, whats done is done, so to speak.:-)
As for the rental part of this thats a new one on me, if the house was in equity and your not living there then the OR may well ask that you may have to sell it in the future if your not buying the BI, but as its an asset then the OR would deal with that when the time comes. I would not have thought renting your home out was an issue until such time it is sold or you buy the BI to keep it safe. As tennets have rights too. Are you renting it now or is that a thought. As you may be aware if there is money in the house and you are not living there then at some stage the OR will want that money.
Dont know if i have helped.
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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