I am having to go bankrupt after having to leave work due to bullying - will my final pay be taken by the OR (I am about to fill in the forms and get the CAB to help me file for B'ruptcy) or can I put it in a friend's account, as I own him near enough the same as my final pay and would like to clear that debt, as I know the OR doesn't take into consideration 'personal' monies owing.
Also, how long does it take to go B'rupt from the day you fill in the forms?
Unfortunately the OR does take into account "personal monies" and if this debt were paid the OR would be very unhappy and probably ask your friend to repay the money to them
This is called preferential treatment and is when you prefer one creditor ( your friend) over the bank. This is deemed unfair and is reversible.
You are made Br on the day you go to court so the best plan would be to book a court date and then aim to have the forms ready for then.
I understand that the OR will not want one creditor to be paid above others but I don't understand the bit about OR 'taking your final pay' How can or do they do this. I am awaiting my interview (over 3 weeks)and now getting really anxious.I know they go through I & E and comment on what is considered excessive but I did not think they went into such detail as what your final pay went on etc and had the power to take it. Someone else posted that the OR scrutinized bank statements and commented on the amount of times she went to supermarket. I have not paid my mortgage in order to pay for car repair which is essential and put some money aside for rent bond so panicking a bit now.
Occasionally if you petition at the wrong time of the month - i.e. just after you have been paid but before your bills / mortgage go out there can be a lot of money in the bank. At this point it can be common for the OR to freeze the account until they are sure what the money is for and what surplus there is.
They are quite quick in releaseing the money as soon as they know but it is a lot of running around to get it organised.
I am having to go bankrupt
Posted - 15 April 2009 : 23:00:36
