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 Repaying debt to family prior to going br		  New Topic  Reply to Topic
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Hazel.ht
Starting Member



3 Posts
Posted - 10 February 2011 :  14:17:41  Show Profile  Visit Hazel.ht's Homepage  Reply with Quote
I owe £38000 to various creditors. 3 years ago a family member lent me £4000. I paid him back. If I apply for bankruptcy, will the OR contact that family member to reclaim the £4000 he lent me and put it in the 'communal pot'? This is what CCCS have told me will happen if I go bankrupt.

Richard P
Senior Member



United Kingdom
1701 Posts
Posted - 10 February 2011 :  14:30:21  Show Profile  Reply with Quote
Hi Hazel

you cannot show preferential treatment to one creditor over another.

it depends when you knew that you were insolvent and the time frame involved.

CCCS are correct in certain circumstances

I would email or telephone one of the experts direct with a resume of time scales.

Richard
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debtinfo
forum expert



2826 Posts
Posted - 10 February 2011 :  18:22:11  Show Profile  Reply with Quote
when did you pay them back
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Hazel.ht
Starting Member



3 Posts
Posted - 10 February 2011 :  20:12:03  Show Profile  Visit Hazel.ht's Homepage  Reply with Quote
quote:
Originally posted by debtinfo

when did you pay them back
I paid it back in May 2009.
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debtinfo
forum expert



2826 Posts
Posted - 10 February 2011 :  22:24:52  Show Profile  Reply with Quote
The OR can only reverse Preference payments to family members if you go bankrupt within 2 years of the repayment
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Hazel.ht
Starting Member



3 Posts
Posted - 10 February 2011 :  22:34:23  Show Profile  Visit Hazel.ht's Homepage  Reply with Quote
thank you. so if go bankrupt this month or next month,the OR will definately ask for the money back?
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debtinfo
forum expert



2826 Posts
Posted - 10 February 2011 :  23:07:31  Show Profile  Reply with Quote
one can never say what they would definitly do, but they woud possibly have the option to, but there are many factors that the OR considers
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