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T O P I C R E V I E W
Ami.66
Posted - 22 February 2012 : 08:11:18 My sister in law and brother in law were bankrupt in Sept 09 and received an early discharge in Jun 10. They put a lot of ‘planning’ in place before going for bankruptcy ie returned HP car and a parent ‘bought’ a new one which BIL has use of, reality being BIL bought it and put his father’s name on the documents and he uses it as his own. The OR deemed their income to be only enough to live on, although they had luxuries like broadband, sky TV use of two vehicles allowed. Consequently no IPA was made. However BIL works in a trade where he can be paid cash, all of which he hides from the Tax Man and also the OR. SIL got a job in Nov 09 but didn’t inform the OR of the additional income. Last summer ie August 2011 they went on holiday to France for two weeks and are planning another two week holiday this summer. News of the their actions has been heard by an ex-employee who lost his job and outstanding wages due to their bankruptcy and is struggling with debts now. He is unhappy that they are living in a large house, have two vehicles and enough money to go abroad for two weeks as well and numerous weekends away in this country. He is making threats about reporting them to the OR for hiding funds during their bankruptcy. Can he do this and if he does what will happen?
1 L A T E S T R E P L I E S (Newest First)
Viki.W
Posted - 22 February 2012 : 08:23:08 Hi,
He can report it but I guess he will need proof or where these funds are and how they were obtained.
Many people who go bankrupt can remain in their home, can keep their cars, have sky TV and even go on holiday.
