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ste
Junior Member
170 Posts |
 Posted - 04 July 2008 : 21:45:14
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If a preference payment has been made before a person declares themself bankrupt and the person receiving the money does not know the person is going bankrupt. can the receiver demand the payment back?
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melanie_giles
Senior Member
1191 Posts |
Posted - 04 July 2008 : 23:02:04
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Hi ste and welcome to the forum
In a nutshell - yes.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 July 2008 : 12:01:07
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quote:
Originally posted by melanie_giles
Hi ste and welcome to the forum
In a nutshell - yes.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
Hi Melanie
We recently paid of 2 HP agreements very small amounts so that dont get added to the BK will the OR ask for these back.
It was not peferential, just wanting to reduce the amount of debt we had and these were only small and had not been involved in the lower payments before as they were already very low.
How do we get on with this now as they were to HFC bank and have been cleared and closed.
Like i said they had not been included in the SOA as i thought i was doing the right thing by trying to clear smaller creditors before we put in petition.
Advise please.
Also if the OR does say that we should not have paid them will that look bad on us, and will they then decide not to allow the BK. |
Edited by - Needafriend on 09 July 2008 12:01:39 |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 09 July 2008 : 17:47:43
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Hi Jo,
HP agreements are actually classified as secured lending as the loans are secured on the asset. In this instance, paying off 2 HP agreements would not be seen as preferrential treatment.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 July 2008 : 22:29:49
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HI JULIAN
DO I NEED TO SAY THIS IN SECTION 3.6 ON THE SOA THAT I MADE THAT PAYMENT OR JUST IGNORE IT ALSO WE PAID OFF A DEBT THAT I AD WITH STUDENT BURSARIES AS I HAD AN OVERPAYMENT AND I WANT TO GO BACK TO UNI ONE DAY AND DID NOT WANT THEM TO HOLD THAT AGAINST ME SHOULD I WRITE THAT IN OR JUST LEAVE IT.
THANKS
JO |
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melanie_giles
Senior Member
1191 Posts |
Posted - 09 July 2008 : 22:47:16
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I think that you should declare all of those payments, and let the OR make up their mind whether they are reasonable or not.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 10 July 2008 : 20:18:34
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Hi Melanie
I have filled out the SOA on line and keep adding things to it before I submit for final printing the day before the hearing. I have tried to keep to the truth and tell them like it is. I dont believe i have missed anything out about the debts etc and tried to explain how we work out the outgoings per month. Its hard going as i feel such an idiot having to do this, its bad enough that we have no choice but i also hope that they dont make you feel an idiot at the hearing and slap your hands.
I have gone over and over the forms and i am just waiting for confirmation on a couple of things with regards to this matter and the SOA.
I dont want to lose other household possessions, will they come and take stuff the most expensive item in the house is the computer worth about £250 quid, we have got into debt by remortgaging, credit cards, loans to pay loans and other debts to keep payments down, a very large over draft which we used when i was sick to pay the bills and now we just cant do it.
Will they be little us and go how stupid we are. Our debts with the mortgage is about £ 222000 thats with a £156000 mortgage and an income half benefit half wages of about £2600pcm.
I just need to know that this is the right choice, that we have nothing else we can do as no available income to offer now and want to get rid of the stress and upset caused by not being gready but by trying to better ourselves.
Jo |
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melanie_giles
Senior Member
1191 Posts |
Posted - 10 July 2008 : 21:06:05
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Hi Jo
It is good that you are taking time to fill out the forms and making sure that nothing is missing. You are worrying yourself over issues which are unlikely to be important, and so long as you complete the forms truthfully and to the best of your knowledge you will sail through your OR interview which in some cases is over in 20 minutes!
No-one is going to make you feel small, and take heart that you are doing the right thing now for your family both for now and into the future. Bankruptcy is nothing to be ashamed of - indeed it is a sanctuary to get away from the claims of creditors you cannot pay. When you go to Court remember that you are the customer, and that the judge and the OR see people like you every single day of the week - so there is nothing unique about your case.
In a couple of months time you will have put this behind you and be really looking to the future. I send you the very best of luck.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 11 July 2008 : 11:21:55
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Great advice as usual Melanie!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 14 July 2008 : 12:29:15
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quote:
Originally posted by JulianDonnelly
Great advice as usual Melanie!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Hi Julian
How do i add a blog now to my name, as I wanted to start my own sort of diary.
Please advise
Thanks
Jo
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 14 July 2008 : 12:48:03
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Hi Jo,
Just set up your blog from the blog page and add the link to your signature.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Topic |
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preference payment made before br declared
