As explained i'm petitioning bankruptcy tomorrow and have loads of questions going round my head.
I received a cheque from Nanna and Grandad back in february solely to go towards my wedding next year. I was in an IVA at the time but not earning anywhere near what I said in the original IVA.
Anyway, I paid some to my girlfriend for rent arrears I owed her and the rest has gone towards the wedding(50-50 split).
Will the OR see this as being irresponsible with the money and will they pursue my girlfriend for it back?
Also, I wound up my limited company last month but have received some cheques I wasnt expecting from customers afterwards. I was going to use some of this to pay the bankruptcy fees. Am I allowed to touch the rest at all? What should I do with it as it's only a few hundred pounds?
Many thanks,
Paul (getting more worried about things by the minute.
Will the OR see this as being irresponsible with the money and will they pursue my girlfriend for it back?
There is a good chance of this happening as you paid off one debt over another so this would be seen as preferential treatment of one creditor over others. The best options is to be completely honest with the OR about this and see what happens.
quote:Originally posted by paulgm_2000
Also, I wound up my limited company last month but have received some cheques I wasn't expecting from customers afterwards. I was going to use some of this to pay the bankruptcy fees. Am I allowed to touch the rest at all? What should I do with it as it's only a few hundred pounds?
Any excess should either be used to pay your debts so you would need to divide the amount on a pro-rata basis between your creditors or you should leave it alone and declare it to the OR during your interview and they will probably claim it.
I thought it was okay to pay my rent arrears as, according to my IVA I was earning £1000 a month when in reality I was earning around £700 for a period of over 6 months. Therefore bridging the difference.
The other money didn't go towards towards the wedding in the end either. During this time we were spending most of out time looking after my girlfriends dad who was terminally and who died in March. My girlfriend was unable to work and my time working was reduced too. Both our incomes were severally affected at this point.
The money was put towards house hold expenditure at the time but was initially earmarked for the wedding I must admit!
Obviously I'm now worried about getting a BRO should I still petition my bankruptcy.
Past payments
Posted - 23 September 2010 : 21:09:21
