Sorry, another question...I have just received a payment from a car crash I had in June. It is for just under £3000. We need the money to pay for the BR for both my husband and I, pay for a house valuation, give my brother the money so he can buy the BI in our house, fix the central heating as we have been shivering for the last couple of months, fix the car as we have been trying to ignore the 'engine fault' light for ages, get myself some maternity clothes as I am walking around with my jeans undone now LOL!(3 months pregnant, get some modest xmas prezzies for family, and to put the rest aside so we can afford everything we need for the baby when it arrives in May. We have paid the cheque into our current account and it should clear next week. Should we draw the money out in cash and keep it seperate to our accounts during the BR process and not declare it, or will the OR ask about it anyway? Thanks.xx
If you need the £3000 to use for essential things like you have suggested then i would use it. It's not as if you are using the money to go on a holiday or use to buy a plasma screen tv. If the OR asks about it then tell him that you needed it for the things you have listed. If you are not going bankrupt until February or March of next year then I don't think £3000 is a lot of money spread over 3 or 4 months for essential needs.
If you and your husband are going bankrupt then a £1000 will be used for a start off (£495 each cash) for your bankruptcy fees.
I second what Debtrider has said. If you feel like you will need to explain to the OR then just keep receipts and notes for everything you spend the money on so you can account for it.
Essential savings??
Posted - 27 November 2008 : 23:01:45
