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 Forum Questions
 Will I be able to continue to pay family loans ?
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Ray.5
Starting Member



1 Posts

Posted - 05 January 2011 :  11:39:29  Show Profile  Visit Ray.5's Homepage  Reply with Quote
i pay £550 a month to family in loans will i be able to continue this and will it be part of my budget if i go bankrupt or will the court's take this into consideration or will be lumped together with other creditor's

gettingoutofdebt
forum expert



2418 Posts

Posted - 05 January 2011 :  11:41:07  Show Profile  Reply with Quote
All debts, including those to your family, will need to be declared to the OR. Your family will be included with all other creditors you have and will receive any money out of any IPA that you may end up paying.
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Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 05 January 2011 :  11:45:17  Show Profile  Reply with Quote
Hi Ray,

As gettingoutofdebt has said, your family will be treated the same as all of your other creditor.

How much do you owe family and how much is your other debt?

There may be other options for you, so take advice.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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