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BankruptC
Senior Member
1030 Posts |
 Posted - 07 September 2008 : 18:58:37
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Hi again all.
Another question-sorry! Hubby's dad gave us £5500 in March this year when we told him we were short for the year (I was on maternity leave) which we used for general living expenses. Is this ok or should we have used it to repay creditors?? We had no idea then we'd be heading for BR!
Thank you again.
CG. x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 07 September 2008 : 19:02:05
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Hi CG
I honestly have no idea, Julian is on here at the moment maybe he cana answer that for you.
Good luck
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 Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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scared
Junior Member
United Kingdom
220 Posts |
Posted - 07 September 2008 : 19:37:11
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Hi CG - My husband got a large redundancy payment in January which we used for general living expenses. We also bought a few things that we needed.
If the £5500 was a loan, then the OR will treat your father-in-law as another creditor. However, if it was a gift and you needed it for living expenses, then I don't see there would be a problem. I think there would be a problem if you used it to pay one creditor off in preference of another.
I think this is right, but an expert will hopefully be along shortly.
xx |
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BankruptC
Senior Member
1030 Posts |
Posted - 07 September 2008 : 19:48:55
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Thanks scared. It was a gift and we didn't use it to pay anyone off. I suppose you're right-I'm worrying we SHOULD have paid someone off, when actually we may have been in more trouble if we had!!
Hopefully another expert will come along soon to clarify.
Thanks so much!
CG. xx |
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John
New Member
United Kingdom
73 Posts |
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BankruptC
Senior Member
1030 Posts |
Posted - 07 September 2008 : 20:00:25
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Thanks John! Another question I'm afraid!!
My Father-in-law lent us some money last Jan. We made repayments all last year and into this year. This Jan, he gave us the money mentioned above to help us out with my maternity leave. At that point he reduced our payments slightly cos he felt sorry for us basically! THEN in July we looked at our finances and decided we'd have to go BR. We spoke to him and explained. There were 3 months left to pay and he said we didn't need to make any more payments, so we haven't. We stopped paying him at the same time as the other creditors.
My question is, as nothing is owing to him now, do we still have to list him as a creditor?? I'm hoping not, cos we don't owe him anything.
Any ideas please?
Thanks in advance!
CG. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 07 September 2008 : 20:09:01
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Hi CG
no there's no need to list F-I-L as you say, you don't owe him anything now.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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BankruptC
Senior Member
1030 Posts |
Posted - 07 September 2008 : 20:17:02
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Thank you John. If the OR notices the repayments to him will that cause a problem as we haven't mentioned it or if we explain will it be ok?
CG. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 07 September 2008 : 22:30:49
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Hi CG
that's not a problem as it was not preferential due to your paying your other creditors at that time.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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BankruptC
Senior Member
1030 Posts |
Posted - 07 September 2008 : 22:32:42
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Thank you again John.
PS. Where do we find the address of our tax office???!
Aargh! (tee hee)
CG. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 07 September 2008 : 22:43:02
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Hi CG
I think it should be on your most recent P60's but I have been self employed since 2002 so can't remember for sure.
If not your respective HR departments will have the details.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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BankruptC
Senior Member
1030 Posts |
Posted - 07 September 2008 : 22:46:33
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Thanks again John...
Now I don't know if the house we're renting is freehold or leasehold. How can we find that out??
Grrr...getting fed up now...(mustkeep smiling, must keep smiling...):-)
CG. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 07 September 2008 : 22:50:05
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Hi CG
I don't recall a question that relates to a rental property asking if F/H or L/H?
That should only be asked in relation to properties you own.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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BankruptC
Senior Member
1030 Posts |
Posted - 07 September 2008 : 22:52:15
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Question 8.2 Properties you rent or lease. It's tlaking about having to tell our landlord about our BR so I presume that's what it means?
CG. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 07 September 2008 : 22:53:48
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Hi
it's a simple thing for the OR to check anyway so just enter unknown.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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BankruptC
Senior Member
1030 Posts |
Posted - 07 September 2008 : 22:56:59
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There are only two options. We'll just guess leasehold, shall we??
CG. x |
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Another last minute panic from me!!!
