We declared BR 6 months ago now and so far things are going well, although money is tight and sticking within our I&E is hard work. An Aunt of mine has just discovered we are Bankrupt and in a well meaning attempt to help us out has just sent us a gift of a cheque for £10,000. I now have no idea what to do with this cheque; I did tell my Aunt ‘no’ but she then said she would post £10,000 of cash through our letter box if I didn't cash her cheque ! To be honest we could really do with the money (far more than HSBC or MBNA) and although it’s not in the ‘spirit’ of things I really don’t want to tell our OR and end up giving it all to the court. Does anyone know if the OR’s ever ask to see bank statements again before discharge? If they don’t I can’t see how the OR’s would ever pick up on this. Anyone have any thoughts ?
Officially you should declare it to the OR and yes he would take it from you as an asset. Yes it is possible for the OR to see your bank statements before discharge. In all sensibility if you are not wanting to declare it then why bank it??? Cash in much larger sums has been being hidden from all sorts of people ORs included for many years and will continue to be hidden. Cash is generally a universal language and you don't need a bank to spend it.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!
The OR can request your bank statements at any time so would find out about this payment. If you do declare it to the OR then it would be taken by him and go to pay off your creditors.
How much was your original debt? I think (I may be wrong) that your IPA can finish if you pay your creditors off so depending on how much you pay (and you original debt) it may be that your IPA finishes sooner.
If you Aunt cannot be persuaded to leave the cheque until you have finished your IPA then the only other options are probably illegal:
- Open a new savings account and put the money in there without telling the OR about it. - Ask you Aunt to open an account for you in her name but giving you access to it.
There is always a chance that the OR would not find out about this money but if he does and you are found to have hidden the money you could end up in prison.
Windfall Payments
Posted - 03 May 2009 : 15:40:45
