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T O P I C R E V I E W
wordseye
Posted - 14 June 2009 : 23:49:53 Hi
I have a couple of questions:
1. I have read on another website that asset disposals such as property sales are checked to see if they were sold at fair market value within the last 2 years before bankruptcy, and elsewhere that it is actually within the last 5 years. Which is correct please?
2. I have opened a Co-op Cashminder account as I am expecting to declare myself BR in a few months. However, I have read on this forum that the account may be temporarily frozen because it was opened and used prior to declaring BR. Is this correct and any way I can prevent this as I assumed only accounts which offer credit facilities are stopped?
Thanks Sandy
2 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 15 June 2009 : 08:04:37 Section 3.5 of the SOA asks if you have sold or transferred any property for less than its' true value so it will be 5 years that would be checked.
leakie
Posted - 15 June 2009 : 06:52:15 Hi Wordseye I can not help on the first question But with the Cash minder , I opened before BR and had no problems, I informed the OR, and she said that she had no interest in it. It was not frozen.
