Sold car 12 months ago

hadenoughnow

Hi

We sold our car 12 months ago, for £3000, it had a few problems, so the sale was about right, we funded our move into rental property with the proceeds, (1months deposit and 2 months rent upfront due to credit check) will the OR accept this?

Also until Dec 08 we were still paying a family member back for a loan, we still him about 5k will the OR hassle him for any monies paid or just include his debt in my estate.

thanks

tigerfeet2006

As long as you didn't sell the car for under valur, which you didn't, then all will be fine. You used the monet sensibly as well, didn't fritter it away.

Were you still paying other creditors at the time as well? If yes then no problems, if no then the OR may ask the reletive for the money back. But if they haven't got it then tough! Was it by DD or just you giving them cash?

hadenoughnow

tigerfeet2006 wrote: »

As long as you didn't sell the car for under valur, which you didn't, then all will be fine. You used the monet sensibly as well, didn't fritter it away.

Were you still paying other creditors at the time as well? If yes then no problems, if no then the OR may ask the reletive for the money back. But if they haven't got it then tough! Was it by DD or just you giving them cash?

i was only paying one creditor, the rest were really old debts anyway and hadnt been paid for some time. i was paying them via S/O so it is clear on B/Staements. Thanks for the advice.