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Skint
Starting Member
7 Posts |
 Posted - 20 May 2012 : 17:37:26
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Hi there,
i am about to fill in the paperwork to get my bankruptcy started :(. i need to pay my grandma back for lending me the fees, i know it would be a bit naughty but what would happen if i took a couple of payday loans out, what would the OR say about it my court date won't be for at least another 15 weeks. if i was to say to the OR that they were taken out to pay my fees. or is this a mega no no and could make the whole bankruptcy situation worse for myself or even refused.
Any help would be much appreciated :) |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 20 May 2012 : 17:57:39
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Do not take any loans out if you are declaring bankruptcy.
I advise you don't rush into it, give your grandma's money back to her, save up as much as you can and go bankrupt when you have the funds yourself.
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 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 May 2012 : 18:54:10
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I totally agree with Viki - you cannot be taking out any loans if you are thinking of going bankrupt.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
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Skint
Starting Member
7 Posts |
Posted - 20 May 2012 : 19:59:45
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| Many thanks for your response, i will definatly take your advice and stay away from another mini loan :). |
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year 2029
Average Member
590 Posts |
Posted - 21 May 2012 : 10:27:42
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Just to add,
In certain circumstances, taking out a loan before you know you are declaring bankruptcy will be seen as fraudulent, and wont set you off on an initial good footing with your OR/Trustee.
Your local CAB should be able to point you in the direction of organisations who may be able to help with costs for declaring bankruptcy.
From my own personal experience, if I could've 'saved' money to go bankrupt, I would have been paying that money to creditors to save myself going bankrupt in the first place. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 21 May 2012 : 10:45:04
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I don't agree with that argument - unless you are either saving a lot or making very small payments to creditors I don't see how paying the money across to creditors would prevent BR.
I appreciate that when I went BR the costs were a lot less but I was able to save the money by not paying anything to my creditors. The amount I was saving would never have been enough to pay my creditors and prevent me going BR though.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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year 2029
Average Member
590 Posts |
Posted - 21 May 2012 : 10:52:15
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Crikey! I wasn't trying to invoke an 'arguement'!
From my own experience, going bankrupt was the best thing I did. With hindsight, I wish I'd done it earlier.
From that perspective, I agree that I would use money that would be due to creditors to pay court costs.
Saving up was never an option for me.
To get back on 'topic', I'm not sure why the OP would also want to wait 15 weeks to go BR. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 21 May 2012 : 11:02:30
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Perhaps there is a backlog at the particular court?
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
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year 2029
Average Member
590 Posts |
Posted - 21 May 2012 : 11:08:57
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We will have to wait for him to let us know I guess?
I only had to wait a couple of days. |
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year 2029
Average Member
590 Posts |
Posted - 21 May 2012 : 11:10:34
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| My apolgies. Or wait for her to reply. |
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Skint
Starting Member
7 Posts |
Posted - 21 May 2012 : 18:37:48
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Sorry peeps, im a lorry driver only have limited time to check my phone at work.
There is a big back log between 12-15 wks :( for my local court it's not a major deal so i will just have to wait.
I have sorted the money out so i best get those forms sorted out and get this show on the road :).
Cheers for the responses though it saved me some awkward questions from the OR if i did take a loan out. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 21 May 2012 : 19:26:16
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Good luck Skint, I hope things go well for you. If you've got any questions you know where we are!
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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Skint
Starting Member
7 Posts |
Posted - 21 May 2012 : 20:02:34
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Thank you :).
Should really change my username to Ashley but at the time, Skint just seamed more appropriate lol. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 21 May 2012 : 20:14:19
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Do you want me to change it for you?
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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Skint
Starting Member
7 Posts |
Posted - 21 May 2012 : 20:39:42
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| It's ok for the moment thank you :) |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 22 May 2012 : 08:28:23
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Good luck skint - hope everything goes ok.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
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Topic |
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I need to pay my grandma back for lending me the fees to go bankrupt
