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.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
Hi Julian , thanks for taking the time , i appreciate it . Are you saying if i dont see it as preferential i should not put it down as so on the SoA ??
help & advice needed
Posted - 06 September 2008 : 14:37:10
