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lillyb
Junior Member
177 Posts |
 Posted - 16 August 2008 : 10:27:59
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We have got into a lot of debt in the last 18 months because of my husband being unemployed. Family and friends leant us some money to get us through - we want to pay them back before bankruptcy is it ok to do this or will our bank statements be looked at and we will be asked why???
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John
New Member
United Kingdom
73 Posts |
Posted - 16 August 2008 : 10:50:35
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Hi
your bank statements will certainly be looked at and questions asked if transactions need to be clarified.
Paying any single, or multiple, debts off in advance of BR is preferential treatment.
Once BR the OR has the right to claim these sums back to ensure ALL of your creditors are treated fairly and paid on a pro rata basis.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Trolly-Dolly
Average Member
591 Posts |
Posted - 16 August 2008 : 11:05:54
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Hi Lilly,
We are in exactly the same position as you. We owe our best friend £1000.
I must admit that I have laid awake at night trying to find ways to pay her so that the OR wont find out. I have racked my brains and it just cant be done!
Finally this week I plucked up the courage and told her that we were going BR and that she was now a creditor. She was fantastic I have to say. I do plan to pay her back, I'll do it with ebay and boot fairs. I know thats probably illegal or whatever, but unlike the banks, she is not rich! If I get found out, so be it, its a risk I'm prepared to take.
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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John
New Member
United Kingdom
73 Posts |
Posted - 16 August 2008 : 11:16:38
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Hi
in such cases if you wait until discharged then you can deal with these debts if you wish.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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lochsong
Junior Member
United Kingdom
171 Posts |
Posted - 17 August 2008 : 13:17:54
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| Hi, interesting point, over the last two years i have lent a large sum of money of a close friend and I recently used a unsecured loan with Cahoot to pay him back. The money was transferred into my ac and i immediately wrote him a check for the money. I dont want to do anything frauduently or see him as getting prefferential treatment. After reading this forum i get the feeling I shouldnt have done this. Should I ask him for the money back and pay it directly back to Cahoot, or should I just declare what I have done, when filing for BR and take the advice of the OR. |
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Trolly-Dolly
Average Member
591 Posts |
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want to pay friends back before bankruptcy
