Please email your PCN story to watchdog@bbc.co.uk they want to hear about it.
Voluntary repossession - with cash savings
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Placitasgirl wrote: »With regard to the £30k; as it is in a bank account in your name it is legally not your Mum's; it's yours.
Not if it's held in trust. Be that either a bare trust or a constructive trust.BBC WatchDog “if you are struggling with an unfair parking charge do get in touch”
Please then tell us here that you have done so.0 -
Agreed, though the OP made no mention of the funds being held in trust. Hopefully that is the case as it would simplify the process hugely should they be considering bankruptcy going forward.0
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The 30k is my mums money and bank records will show when it was paid in and that apart from a couple of transfers to my mums account it’s been pretty inactive.
Implies a bare or constructive trust; the funds do not appear to be available for the OP's use and no mention of the word "loan" has been made.
If mum just asked the OP to look after her money it's not the OP's money and not an available asset in a bankruptcy.BBC WatchDog “if you are struggling with an unfair parking charge do get in touch”
Please email your PCN story to watchdog@bbc.co.uk they want to hear about it.Please then tell us here that you have done so.0 -
Thanks for posting. The money wasn’t a loan, I’m simply holding it for her. Unfortunately I have a manipulative sibling with a penchant for drugs/alcohol.0
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