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| T O P I C R E V I E W |
| Thomas1939 |
Posted - 12 January 2009 : 12:39:39
Plan to go bankrupt next month. How long would it take for my creaditor ie loan & creadit card companys sent their people to my mailling address. Had wrote three cheque, three thousand pound each to someone back in July and August, would the OR claim them back. Had a foreigh life policy worth aroung £3800, cashed in and been given to my mum as her living espenses for the years to come. Would The OR claim it back from my mun? Please help,THanks |
| 4 L A T E S T R E P L I E S (Newest First) |
| thomaskoo |
Posted - 16 January 2009 : 13:26:18
Hi, thank for the reply. For the last ten years or so, I send approximate £3k per year to support my mum as I'm her only dependent. So, when in BR, I don't think I can aford or allow to send mony back there. The money from the life policy is the only available fund. The situation will be reveal to the OR. Pls advise how it can be done. Just been told the OR is powerless to act on oversea account. ie the account under my mum name. |
| RHB |
Posted - 16 January 2009 : 07:16:41
What do you mean as giving that money to your mum as expemses for years to come? To be honest that sounds like a case of hiding assets & I can see your mum having to pay the money back & you with a BRO.
The cheques would show up on your bank statements that you have to provide for the OR & he would want to know who they went to & why. |
| thomaskoo |
Posted - 16 January 2009 : 00:58:59
Thank you very much Johns for answering my question. I just wonder why the credit card company will bring the matter to their attention as the cheques are from a bank? Please reply, Thanks.
regards Thomas |
| Reviva UK |
Posted - 12 January 2009 : 22:26:58
Hi
the payment to your mum would be classed as preferential treatment and for this figure the OR would be interested in pursuing it.
Additionally the OR when reviewing your conduct will probably find the 3 x £1000 cheques and will question you about these.
Even if the OR doesn't find them there is the chance that the credit card company will bring the matter to their attention.
Suggest you call the helpline to get specific advice regarding your positiopn before it gets potentially worse.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
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