| Author |
 Topic  |
|
|
9588
Starting Member
2 Posts |
 Posted - 06 October 2010 : 00:55:03
|
hi
i m going bankrupt due to piles of debt. i 've learned from this site that the court might look at any money trancsation over the last 5years.
my situation is--- i had made an £30k oversea payment in 2008, but at that time my financial situation was absolutely healthy, ie: i had regular income and a healthy bank balance.
only it was until late2009 things started to change due to personal circumstances. and i now have a debt of over £40k and without a job.
bankruptcy seems the only way to go now. but i m concerned they might ask me to explain that 2008 oversea payment........
please help |
|
|
debtinfo
forum expert
2826 Posts |
Posted - 06 October 2010 : 07:20:15
|
| In 2008 were your debts larger than your assets. |
 |
|
|
Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 06 October 2010 : 08:32:59
|
Hi
what was the 30k transfer for?
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
|
|
|
Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 06 October 2010 : 11:30:56
|
The OR generally views any transactions, credit applications, and tax matters etc over 3 years as becoming what they term "stale", and as such wouldn't generally be investigated further, but would probably influence any early discharge decision.
Therefore, as this transaction took place in 2008, it would require an explanation. There is nothing wrong with making this type of payment, but as the previous posts have asked, what was your actual financial position in 2008, and what was the £30k for?
Big Al |
|
|
|
9588
Starting Member
2 Posts |
Posted - 06 October 2010 : 13:02:27
|
thanks for your reply
most of the 30k was to clear my oversea debt. and at that time my financial situation was healthy with regualar income and around 10k in cash. |
|
|
| |
Topic |
|
going Bankrupt, please advice
