Getting credit/mobile phone before bankruptcy

PJ_Reid · 26 October 2017 at 9:30AM

Hi
I have been foolish and took out a mobile phone contract weeks before im due to submit my bankruptcy application. I have sold the sold the phone since as i needed funds and used the money to pay off some small bills and freinds i owed money to. I feel really bad and think iv made the situation worse I have not added the phone contract to my bankruptcy but will be unable to pay it, I dont know if to wait to submit my application so it dosent look as bad or to say nothing and hope for the best? Im really worried now what to do?

Flyright · 26 October 2017 at 9:51AM

The debt should be disclosed along with all your other debts. You are legally required to be honest with the OR and in any case they can easily find out from your credit history. You need to be upfront about this.

You will also be required to disclose the fact that you repaid friends. This is likely to be considered a preference payment so will be pursued by the OR.

PJ_Reid · 26 October 2017 at 10:54AM

Thanks for advice it was only £50 i owed but il let the OR know

Darrenm325 · 29 October 2017 at 9:48AM

Be carful I owed my dad some money I repaid him , I went bankrucpt a year later and now they are chasing my dad for the money that I payed him of 5 k

Lioness_Twinkletoes · 29 October 2017 at 10:19AM

PJ_Reid wrote: »

Thanks for advice it was only £50 i owed but il let the OR know

So what did you do with the rest of the money? New phones achieve a lot more than £50

Getting credit/mobile phone before bankruptcy

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