Official receiver disaster!

[DebtDevil]

Sorry had to remove this post.

[IF]

Re: Official receiver disaster!

Hi debtdevil, I'm sorry to hear you've had a bad experience with your OR, I think they will be more concerned over the large loans you took out in the last 12 months than the odd £5 or £10,.

Can you, before your next OR call, do an estimate of the dates for each debt you have, what it was spent on,i f you used it for living costs say so, if it was to consolidate say so, date when difficulties arose - and what you did - e.g 2011 lost job, took a new credit card etc

Can I also ask which debt charity helped you with filling in your SOA?

Have you see this by NEDCAB to help with your SOA --- > IPA/IPO Expenditure Guideline Tables (April 2012) by NEDCAB

Before the next call just look through your 6.28/SOA and your piece of paper with new info written on so your familiar with what you have said.

Before the next call take deep breaths, have a big mug of tea ready or a bottle of water, and while they are writing things down you can have sips of tea/water, so you don't feel you have to fill in the pauses. And if you don’t know the answer to a question just say so.
Do have a list with all questions ‘you’ want to ask too.

Best wishes
IF

[DebtDevil]

Re: Official receiver disaster!

Sorry

[Riz]

Re: Official receiver disaster!

Tell them what you can and give details of what you can. That is all you realistically can do.

If you have to estimate or guess, then tell them that is what you are doing, and why, so then they can't say they were not warned it might not be accurate. They are used to people's finances being a mess and not very good records, so will not be surprised.

It's a pain for them to get records off all your creditors and banks, so they are just trying to minimise the workload their end, not trying to catch you out.

They will want full details and explanations of why you seem to have been paying other people's large debts off in recent months. That does look a bit dodgy, and in theory they do have the power to go after them if they think you were deliberately trying to advantage those people in the case that you were going to go bankrupt. Sounds like you weren't, but they may well want you to demonstrate that as the law says the onus is on you to show you were not.

[SXGuy]

Re: Official receiver disaster!

Your mum is a creditor as well, dont forget this! If you were paying her money every month for essentially lending you money (i.e she took out a loan) then she is one of your creditors also, they cant ask for the money back from her, but you do need to make sure they are aware that she lent you the money and you were repaying it. She will go down on the list as a creditor also.

When i went BR, my mother had lent me over 20k to help get my business off the ground, She was one of my creditors for this very reason, it wasnt dodgy, i wasnt filtering my money off to her. Your mum can quite easily back you up by also telling them how much she lent you and how much you have been repaying, so dont stress to much there.

The thing with the OR's are, they quite frankly want to do as little as possible, they dont really care about donkey work trying to figure it all out themselves, they want an easy life, which is why they appear to come down strong on you, instead of investigating it all themselves.

I was forever chasing them, explaining things to them, and putting my foot up their ass to sort things out when it went wrong from time to time.

[Riz]

Re: Official receiver disaster!

Your mum is a creditor as well, dont forget this! If you were paying her money every month for essentially lending you money (i.e she took out a loan) then she is one of your creditors also, they cant ask for the money back from her

They can if it they consider that the loans were paid off as a preference. Also not 100% clear here if they were paid off in one go, or regularly as part of normal payments allotted to creditors. If all in one go, basically clearing the mother's debts at that point, then they may look very closely at that. Preferences to connected parties, family etc, can be looked at and maybe reversed if within 2 years of the bankruptcy, and it is presumed in law that there was a desire to prefer unless it can be shown otherwise.

Not saying that applies here or not, but depending on how and when the mothers loans were paid off, it could well be something the OR looks at.

Hopefully won't apply here, but had to make the point just in case,

[SXGuy]

Re: Official receiver disaster!

your right Riz i hadnt thought about the preference aspect. Its true, OR would want to see that you attempted to repay each creditor fairly.

From my personal expierence, and dont use anything i say as an answer to any questions the OR throws at you.

He asked me, why i didnt decide to try and split any money i did have evenly and fairly across all creditors first. And my reply was, that it was only at the moment i realised i couldnt afford to repay my debts any more, that i filed for bankruptcy. The OR appeared to accept that answer.

But as i say, please dont use my answer as your own defence, i do not wish to be liable for anything that came of it.

[PlanB]

Re: Official receiver disaster!

I also rent a house off my mum for 500 quid a month, so this will be the next thing that will cause a problem I assume!

Has your Mum provided you with a tenancy agreement? That may help, and it also may help you to claim Housing Benefit if you can demonstrate that it's a commercial arrangement with your Mum, although that may be dependant on any income you may have coming in.

[DebtDevil]

Re: Official receiver disaster!

Removed