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| T O P I C R E V I E W |
| kev.cy |
Posted - 02 October 2009 : 21:14:37
Hi all,
hoping to tap your collective expertise again!
As you may have seen from my other posts I am considering petitioning for bankruptcy, however before doing so I would like to ask:
- for those who've had dealings with an OR, how far back into a persons financial history is it usual for the OR to investigate? Is it 1 - 2 years, or does it just depend upon the whim of the OR?
Any views or feedback gratefully received.
Thanks in advance,
K
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| 9 L A T E S T R E P L I E S (Newest First) |
| kev.cy |
Posted - 05 October 2009 : 08:01:57
Thanks Skippy
lots of useful stuff
Kevn
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| Skippy |
Posted - 03 October 2009 : 21:56:14
I had to produce 12 months of statements, and any ones I didn't have (I was in an IVA prior to BR) I presume the OR got from the banks.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
26 IPA payments made, 10 to go - on the home straight! |
| kev.cy |
Posted - 03 October 2009 : 21:05:41
Thanks Paul :)
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| Reviva UK |
Posted - 03 October 2009 : 16:29:40
Hi kev
I am 100% confident that you are OK.
You haven't shown a preference and you were technically not insolvent at the time of the repayment and you continues to repay creditors for a further 3 years.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
| newbee |
Posted - 03 October 2009 : 08:40:52
hi my or went back 5 years when asking about things so long ago i couldnt really remember much but they can get hold of all the info so dont worry about it . |
| kev.cy |
Posted - 03 October 2009 : 00:36:25
Thanks once again DebtInfo,
excellent information.
I think that pretty well nails it for me!
Cheers,
K.
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| debtinfo |
Posted - 02 October 2009 : 23:30:12
hi, there is no technical limit on how far back they can investigate. But in reality there are some barriers. New rules came into force in 2004 so action cannot be taken against offences before this. There are three things to consider first is bankruptcy restictions and second is recovery action and third is the alleged offence, for instance a preference can only be recovered if it happens in the last 6 onths for a non assosiate and 2 years for an assosiate. Transactions at under value are up to 5 years and fraudulent transactions to the detriment of creditors have no limit. in your case you would be looking at a preference to an assosiate which is two years, which has passed. |
| kev.cy |
Posted - 02 October 2009 : 22:58:57
Thanks for the feedback.
K
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| Housing |
Posted - 02 October 2009 : 21:55:01
Hi
I believe 2 years in these matters is normal. I guess the statute of limitations gives up tp 5 - I am not an expert in this area -based on my BR - I had two businesses - a sole trader and a limited company - the sole trader business is BR Not to Limited company - it is ceased trading and very litt;e owed to creditors - £12K (mainly to the RBOS)
Foe me the OR asked for accounts for two year - when we started to find when thigs went wrong, we went back further - to assist the OR (and me!) I volunteered two years of the limited company (more for illustration) I went back 4 years on my trading in a manner that I trust was useful to see a pattern of decline - he appeared to be greatful anyway!!
I wish you well whatever he/she seeks from you - I am sure there is a minimum period of time that they have to search, Richard
"There are no problems - only solutions..." |
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