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digman
Junior Member
United Kingdom
319 Posts |
 Posted - 07 September 2008 : 09:53:12
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Could one of the experts give me some guidance on this please .....
Q3.6 on the SoA ... If you have made a payment to a creditor in the last 2 years with a view to omprove their position if you went bankrupt .
My question is ... if i repaid a friend in March this year in full from a sale of shares but had no thoughts of bankruptcy at that stage would i have to put it down as i wasnt paying him to imrove his position in case of bankruptcy ? |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 07 September 2008 : 09:57:42
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hi Digman,
Im not 100% sure i would have thought that you would have to write it down, i paid a NHS bursarie bill just before BR and added that in. I did write an extra bit on section 13 to say what I had done.
If it went through your bank and is tracable then its better to be honest and write it in, you would not want the OR looking trhough and finding things that you did not write in as it my look like your hiding things and they wont like that.
Dont know if i helped. Like i said i wrote a note to say why i did the payment and that it was not done to be preferential to any of my other creditors.
Not sure if that makes sense.
And Remember To Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 07 September 2008 : 10:08:48
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Thanks for your reply , my life & finances are in such a mess at mo i dont know hat the hell to do . I have been reckless through gambling and will tell OR that and accept whatever he comes up with in way of BRO/BRU but dont want to upset family and friends even more by them having to repay money i have repaid them for lending me cash if you know what i mean .
Perhaps if SUZANNE is about she could advise more as looking from her profile she used to work as an OR examiner . |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 07 September 2008 : 10:20:34
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Hi Yeah Digman,
She should be about tomorrow and hopefully she will be able to offer better advice, I am waiting to hear from her also on a matter that i have.
Sorry that i could not help much, but you will get there, and i know its no help really as im not you, but try not to worry you will get through this, try and be positive and dont beat yourself up over it, whats done is done, you must look for a positive future now.
You made mistakes, we all do now your trying to get those mistakes sorted, that takes courage.:)
And Remember To Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 07 September 2008 : 10:57:33
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| Thanks for your kind words . Do you know if i should just wait til SUZANNE sees this post or is there a way of contacting her |
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Needafriend
Junior Member
United Kingdom
344 Posts |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 08 September 2008 : 10:35:11
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Hi digman
You would have to mention it on the form. The OR would look at the transaction to decide if it was a preference payment, and this would be the case if you were insolvent at the time you paid them. The OR would look to recover that money in order for it to be distributed equally between your creditors.
Was it a lot of money? as this could make a difference.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 08 September 2008 : 17:19:48
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| Hi Suzanne , thanks for your answer . The amount involved was £5500 |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 08 September 2008 : 17:47:22
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Hi Digman,
Further to my other post, it is entirely likely this will be deemed a preferential payment as well.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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repaid a friend with no thought of br.
