Hi , can anybody please advise ; Family members and friends have lent me money in the past to help free me from debt ( admittedly caused thru my irresponsible actions and gambling ) . I was saving in a sharesave plan at work and when this matured june last year i paid them back ( totals of £18000 approx ) . I have not yet applied for bankruptcy but if i did would the OR look to reclaim this money from family & friends with it happening well before i have even considered bankruptcy ? . I know i will be in for a rough ride as the debts ( cards & loans & cheque encashment companies ) have been incurred thru gambling not to mention been totally dis-owned by my close family .
The OR could deem this as a preferrential payment and claw the money back to distribute pro-rata to your creditors. However, it depends on how long ago this was and if you declare you've made preferrential payments on your SOA.