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andysmith
Starting Member
United Kingdom
8 Posts |
 Posted - 03 October 2008 : 22:00:11
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my girlfriend and i have some debts we have no financial link joint accounts or anything, she still has all her mail sent to her parents.
is it possible for all her personal debts to be transferred into my name?
secondly how would we go about it? |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 03 October 2008 : 22:12:05
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Hi andy & welcome ,
Purely as an opinion i would have thought the only way to do it would be for you to get a loan and repay all her debts with the monies .
As a footnote though if you were planning to do this and then go BR it would be looked upon very unfavourably by the OR .
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Edited by - digman on 03 October 2008 22:14:20 |
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andysmith
Starting Member
United Kingdom
8 Posts |
Posted - 03 October 2008 : 22:17:29
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Who would be able to give me advice on the subject?
CAB?
What is OR? |
Edited by - andysmith on 03 October 2008 22:23:12 |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 03 October 2008 : 22:22:40
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Sorry , i dont know .
OR is the Official Reciever - the person who takes control of your Bankruptcy and investigates your financial affairs prior to Bankruptcy to find the causes of it .
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Edited by - digman on 03 October 2008 22:26:21 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 04 October 2008 : 07:36:43
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Hi AndySmith
I would give our helpline a call and speak to them. Ad digman says taking on the other debt in your name will def be frowned apon and would not be a good idea in my opinion if your going to go BR soon afterwards.
I would call the helpline its free and see if they can help also.
I beleive that if you did take on the debts so soon then the OR can have the power to overturn the debt back to how it was and then your girlfriend could still be liable. Dont 100% quote me on that but i think i may be right in saying that.
Take care and like i have said give them a call.
Jo x
Mother Hen
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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andysmith
Starting Member
United Kingdom
8 Posts |
Posted - 06 October 2008 : 11:32:42
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does anyone else know if this is possible or not?
cab visit required! |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 06 October 2008 : 12:14:07
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Hi Andysmith
Personally i would contact the helpline on this forum. They have give me more valuable advice than the CAB ever could. Plus the CAB give me TERRIBLE and WRONG advice, and had me in teras for no reason most of the time.
Dont get me wrong the CAB are very good, however, i believe in BR cases it is much more complicated.
Anyway, thought id give you my advice
Good Luck
Jenny
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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RHB
Senior Member
1159 Posts |
Posted - 06 October 2008 : 12:15:34
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| If you are taking on her debts with the ability to pay them then no problems but if you are taking them on so you can go bankrupt & clear them with the others you could be in big trouble! Plus your girlfriend would still end up responsible for them. A no starter imo!! |
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andysmith
Starting Member
United Kingdom
8 Posts |
Posted - 06 October 2008 : 16:28:58
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So in effect I write to the companies concerned and ask them to produce a new credit agreement in my name?
Therefore transferring the debt to me? |
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BankruptC
Senior Member
1030 Posts |
Posted - 06 October 2008 : 16:31:39
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Andy if you do that now, you are in effect taking extra credit knowing you are going BR and you'll get slapped with a BRU/BRO I'd imagine. I really don't think it's worth it.
C. x |
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RHB
Senior Member
1159 Posts |
Posted - 06 October 2008 : 17:14:08
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If you are up the creek crediit wise I'm not sire the companies would agree anyway would they????
I think they would suggest you get a loan in your name to pay those debts off rather than change the name on each of her credit agreements. |
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andysmith
Starting Member
United Kingdom
8 Posts |
Posted - 06 October 2008 : 17:18:56
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I have written to a few of her creditors already with the same letter, i await their response!.
Thinking of transferring them then not doing anything for a while maybe pay them £1 a week then about a year after going br! |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 06 October 2008 : 17:24:38
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Andy ,
no creditor will accept a £1 payment for that length of time !!, they will resort to court action long before that .
By doing what you are suggesting you are opening a huge can of worms |
Edited by - digman on 06 October 2008 17:26:07 |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 06 October 2008 : 18:00:29
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Hi Andy
Im no expert, but i believe the OR will only overturn what you ntend to do anyway, therefore you will be back in the same position. (for example if my hubby transfered our joint mortgage into just his name, last year then even that could be overturned as they clearly know what your plans are)
Is there any reason you will not go BR straighaway?
I would urge you to reconsider this as in my opinion it is going to come back and bite you in the bum.
Why not call the helpline on the forum, they are fantastic
Good Luck
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 06 October 2008 : 19:01:57
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Hi Andy,
One of my colleagues has tried to return your call.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Topic |
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transfer of debts
