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wordseye
Starting Member



4 Posts

Posted - 14 June 2009 :  23:49:53  Show Profile  Visit wordseye's Homepage  Reply with Quote
Hi

I have a couple of questions:

1. I have read on another website that asset disposals such as property sales are checked to see if they were sold at fair market value within the last 2 years before bankruptcy, and elsewhere that it is actually within the last 5 years. Which is correct please?

2. I have opened a Co-op Cashminder account as I am expecting to declare myself BR in a few months. However, I have read on this forum that the account may be temporarily frozen because it was opened and used prior to declaring BR. Is this correct and any way I can prevent this as I assumed only accounts which offer credit facilities are stopped?

Thanks
Sandy

leakie
Junior Member



United Kingdom
158 Posts

Posted - 15 June 2009 :  06:52:15  Show Profile  Reply with Quote
Hi Wordseye
I can not help on the first question
But with the Cash minder , I opened before BR and had no problems, I informed the OR, and she said that she had no interest in it.
It was not frozen.

All the best

Leakie
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gettingoutofdebt
forum expert



2418 Posts

Posted - 15 June 2009 :  08:04:37  Show Profile  Reply with Quote
Section 3.5 of the SOA asks if you have sold or transferred any property for less than its' true value so it will be 5 years that would be checked.
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