First post after reading loads of previous posts. I am confused, what is this '5 year rule'?? Some posts read as if the OR have not much power in affairs done outside 5 years..?? Is this true?
generally the OR is interested in transactions involving property within the last 5 years but in theory any transaction done any time pre BR that was done in order to hide assets or minimalise loss in the knowledge of BR in the future could be investigated if the OR discovered them, even after discharge.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman) RevivaUK and Paul Johns helped me through it all i can't recommend them enough!!
generally the OR is interested in transactions involving property within the last 5 years but in theory any transaction done any time pre BR that was done in order to hide assets or minimalise loss in the knowledge of BR in the future could be investigated if the OR discovered them, even after discharge.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman) RevivaUK and Paul Johns helped me through it all i can't recommend them enough!!
I lived with my ex-partner from 1998-2001 and paid very little towards bills.So little that arguments used to be pretty much about him paying everything. So we briefly broke up 2001-my name taken off house, but after a short while and nowhere really for me to live we came to the solution of me renting a room and remaining friends. Last year he sold this house and used the extra money towards the current house and I rent a room here too as it has a extra building to it / separate entrance available.My name appears only as a tennant on the current house.
It would ruin our friendship if he suddenly got a letter from some OR demanding money from the house sale!! I havent been part of it since 2001 so its been solely his since then surely...?
Hi from what you say I think that you can honestly say that you have not disposed of any property in the last five years. For the OR's purposes you are simply renting from a friend.
I sort of thought it would be very unfair to demand money from something that really isn't mine anymore, but I'm very grateful for the replies and its calmed me somewhat!!
Reading this forum suggests the OR arent really out to ruin anyones life and friendships etc and I really just want to put my credit-using years behind me and continue living with no credit as I have since approx 2004. (like so many others here on the forum-well done to us!!)
5 Year rule??????
Posted - 21 January 2010 : 15:48:08
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