Shall I go bankrupt! Please help!

blind-as-a-bat_2

buddy21 wrote: »

Note from your first post that you are thinking of selling the car and repaying family member. Please check into this first! I sold my car 2 years before my bankruptcy (bankruptcy was not even a thought at the time) and did similar and it has caused me so many problems. My OR is continually threatening to take me to court and extend the terms of my bankruptcy etc etc. They view it as favouring one creditor over another - even though that was not the case at the time.

Sounds like you you have an OR with a power complex:rolleyes:

S/He cant take you to court to extend your terms of bankruptcy unless he proposes a BRU first which does not require court intervention as you voluntaraly accept these, if you refuse they can apply to the court for a BRO

Sounds like they are over stepping the mark a bit and boardering on herassment by threatening you in this manner, but hard to say from the little you have put

Carlyt

well my car was originally hire purchase and they was going to reposses it due to arrears, so family member borrowed me money to pay hp off, i said i would pay him monthly and look into selling car to downgrade it and buy older one, this is what i am doing and putting car in mums name

blind-as-a-bat_2

31.2.14 Repayment to finance company made on behalf of insolvent

The payment of instalments by a person other than the hirer under an agreement where ownership may be transferred does not result in the transfer of any rights or ownership to that person [note 4]. Any such repayments should be treated as a loan and the person who made them may claim in the proceedings as an unsecured creditor for any repayments he/she has not been reimbursed.

You need to bear this in mind as that is what it sounds like you did so is how the OR may view it