Hi, since my few questions that were kindly answered before, I think I am pretty much set to go through with this. I just would like clarification on a couple of things if possible. 1. Should I name a family member who lent myself and my ex partner money (from collateral on his house) as a creditor? I am currently paying it as a SO. If I did this, would he lose out or should I just continue to pay him back separately (maybe stating it something else)?
2. How would I go about a new bank account, as I know the OR would take control of my current account but I would still be getting paid from my employer. When would be the best time to open a new account (i.e. at what point during the bankruptcy procedure would be the best time to do this)? Or can I continue to use my original account (bearing in mind I have a £1500 overdraft).
I spoke to my employer and was re-assured that my position in the company was safe so that is one less worry:)
glad to read that you ahve an understanding employer
!) you currently have a paper trail from your bank account, The Or will want to know what it is about, you cannot show preferential treatment to a family member over and above any other creditor
2) Open a BR friendly bank account (coop cash minder) about 4 - 8 weeks before going to court then arrange to have your wages transferredinto the account.
1. This is a common problem. If you declare the relative as a creditor they would get a share of your IPA if you paid one and the debt would officially be written off. If you don't then you would need to pay them back out of any income you have left over.
I'm assuming that there wasn't a credit agreement between the two of you? Chances are your relative would want the amount paying back regardless of whether you declared them as a creditor or not and if you didn't pay them back it could cause family problems.
Hi, since my questions that were kindly answered
Posted - 25 February 2010 : 19:38:22
