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| indy2005 |
Posted - 21 August 2008 : 16:05:49
Hi,
I won 10K on lottery last year at work. It went towards living expenses, a holiday in EuroDisney in February and generally made the last 10 months on my debt management plan more manageable. As the money is gone I didnt list it, I also had no statements from the account the money went into. The money was passed to my wife for her to manage. As an ex-gambler having 10K is dangerous (she even receives my salary into her account and has done for 2 years).
I didnt list this anywhere and had no statements to hand over. I assumed they would ask for this statement from the bank and then I would get questions. I havent been asked about the money, but have now received a 12 month statement since the account was closed which I havent forwarded to the OR yet, assuming they would already have it.
My OR is now asking for any additional information on my financial affairs and now I am worried about having to explain a 10K trannsfer to my wife last August. The money is gone, I am worried they will chase my wife for the 10K. But the money went on living expenses, a holiday and in helping us with the DMP payments (i.e. allowed us to live "normally"). Any advice appreciated.
Regards
i |
| 7 L A T E S T R E P L I E S (Newest First) |
| indy2005 |
Posted - 23 August 2008 : 19:12:09
Thanks,
Thats a relief.
i |
| John |
Posted - 23 August 2008 : 08:52:48
Hi
don't worry, your wife cannot be forced into BR because of this. Any impact on your case, if any, will fall to you....back to the BRU scenario again.
As I've mentioned before, a BRU, in my opinion, is a toothless tiger unless you want to start getting credit down the line or you want to be a judge, barrister, director of a limited company etc.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| indy2005 |
Posted - 23 August 2008 : 01:12:06
quote:
Originally posted by John
Hi indy
I would have to agree with you.
If they do have a copy statement and ask any questions just state the truth, you used the money for general living expense making the DMP affordable.
www.Bankruptcyhelp.org.uk
0800 078 9367
Hi John,
Thanks. My biggest fear is they see it as a transfer of assets to my wife as they will see 1K, 2K chunks paid to my wife as and when we needed things (she manages the finances since the gambling). As a pessimist I see them asking my wife for the money back and forcing her into BR. I am a glass half empty kind of guy.
As far as I am concerned I think this is the right decision. On my SOA I didnt list it as an asset (its gone), I also said that no one was holding any money for me (its gone). I dont think there was anywhere on the SOA where I could have listed this, but believe this is the ORs duty to examine my behaviour prior to BR and to ask for clarification on anything they see they arent happy about.
Thanks
i
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| John |
Posted - 22 August 2008 : 20:57:46
Hi indy
I would have to agree with you.
If they do have a copy statement and ask any questions just state the truth, you used the money for general living expense making the DMP affordable.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| indy2005 |
Posted - 22 August 2008 : 19:20:52
I think my decision is I am not going to say anything unless asked. Cant find the statement now anyway and the OR can get it if they havent already received it.
I dont feel I am hiding anything, we dont have the money and it was spent on living expenses, a holiday and made the 10 months of the Debt Managment Plan more managable.
So...I am keeping quiet and will respond if asked.
Any thoughts welcome. It just seems daft to talk them through some money I dont have?
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| indy2005 |
Posted - 21 August 2008 : 19:02:48
quote:
Originally posted by John
Hi
then they will know they cannot get to that money.
This will also impact on you by way of possible BRO.
www.Bankruptcyhelp.org.uk
0800 078 9367
Thanks
As you will know from my Secretary of State thread I am already headed for a BRO as this is what my examiner said the SOS report is for. Will this extend the BRO? Or just go into the general "pot" of data to help them make a decision.
Finally, shall I just come clean and say I have recently received a statement and send it in...then wait for the questions...or send it in and explain what the 10K is and where it went..or not send it in at all!
My worry also is this is seen as some undehand disposal of assets when it wasnt. We werent even considering BR until 2008.
Regards
i |
| John |
Posted - 21 August 2008 : 16:47:45
Hi
then they will know they cannot get to that money.
This will also impact on you by way of possible BRO.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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