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Aries1
Starting Member
United Kingdom
5 Posts |
 Posted - 15 April 2009 : 12:20:36
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I lived through a three, and a half year onslaught by a particular company which threatened to ruin my life completely. Even though this was settled out of court in my favour it still cost me several thousands of pounds in fee's etc. However now I feel if I could survive through this I can survive through anything.
I am now having to seriously consider going bankrupt, and will probably implement this within the next month. This is due to my small business not recieving work for the last 10 months.
I recently sold my bike for £3,000 and have spent the cash. Will I need to declare this to the OR, and will I now be in deeper trouble for my cash distribution?
I thank you in advance for any advice
As I am new to this forum I am not sure of its policies. In reference to my first paragraph where I was settled out of court in my favour by the finance company who was seeking to ruin me, is there someway I can disclose information which I found out myself, and surprising my barrister, and solicitor which led to the company making this settlement?
I would most certainly love to assist anyone else who is being hounded by this company.
Many thanks |
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John
New Member
United Kingdom
73 Posts |
Posted - 15 April 2009 : 12:35:27
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Hi
and welcome to the forum.
if you have spent the funds raised from the sale of the bike on your essential expenditure this would not necessarily impact on you too much.
As far as the rest of your post, whilst all info is helpful you could possibly be entering into an area which could compromise your position and indeed the position of the site owners. This is purely my opinion.
Perhaps the admin team would care to comment.
John White
England Jackman & Spacey |
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Aries1
Starting Member
United Kingdom
5 Posts |
Posted - 15 April 2009 : 13:14:06
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Thanks for your rapid reply John it is most appreciated. Yes, I considered the issue of the information, and the reason why I asked :) However i would love to get this out to those that may find it useful, even if not on the forum here.
In regards to the bike, I cannot say I have spent it on essentials, but on conscience. I have had a few who offered to assist me during my tight times.
So whats the worst they can do ;)
Do I actually need to disclose the fact I sold it? No one knew I even had it.
Life is a roller coaster, and I've had my share of the downs. I refuse to be conditioned, and live life by fear. I got a T shirt for this several times.... No more!
Thanks again for your help, and its wonderful to see folk these days who are actually prepared to help another. |
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John
New Member
United Kingdom
73 Posts |
Posted - 15 April 2009 : 14:24:09
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Hi
the OR will carry out a mandatory check at DVLA which is a historical check going back a minimum 12 months.
If the bike is identified you will be asked where it has gone and where any funds raised from the sale have been spent.
By paying some debts off this is preferential treatment which is not allowed.
The OR has the power to reclaim this money from the recipients. If you do not disclose the receipients this is non cooperation which will lead to you receiving a bankruptcy restriction, either by agreement or by order of the court.
If you claim the bike was registered to you but that you did not own it you will need to evidence this by purchase invoice or a bank statement from the 3rd party buyer.
John White
England Jackman & Spacey |
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Aries1
Starting Member
United Kingdom
5 Posts |
Posted - 16 April 2009 : 02:53:19
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Thanks John, I now have the understanding I needed.
Cheers |
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Into the deep once more :)
