Paying upfront rent

Bassplayer

Morning all

I know that any pensions are now protected under BR but as I turned 50 last month I am going to take 25% tax free cash (i just love that tax free bit!) from my megre funds so that I have a deposit, 6 months rent up front and my BR fees paid.

Unfortunately, I have no other way of finding the £5-£6K I'm going to need.

If I weren't to use this money for this purpose I know that the OR can view it as 'windfall' and take it. But do you know how the OR will respond to me using it to secure somewhere else to live? My two teenage daughters live with me for half the time, so I need a proper, family sized home!

Just another quick point about timescales. I know I declare myself BR at court and then either meet or talk to the OR's people face to face or on phone in a week or two. But how long is it before they close the file and loose interest in me and is there some kind of official paperwork at that time.

Thanks for your help all...it's a joy to read some of the stuff on here, even though we've all been in a pretty dark place!

BP

k2nga

Well they may not like it but you got to live and i am sure they wont argue with that and personally i think its a wise thing to do as you secure somewhere to live while dealing with everything.

philnicandamy

Bassplayer wrote: »

Morning all

I know that any pensions are now protected under BR but as I turned 50 last month I am going to take 25% tax free cash (i just love that tax free bit!) from my megre funds so that I have a deposit, 6 months rent up front and my BR fees paid.

Unfortunately, I have no other way of finding the £5-£6K I'm going to need.

If I weren't to use this money for this purpose I know that the OR can view it as 'windfall' and take it. But do you know how the OR will respond to me using it to secure somewhere else to live? My two teenage daughters live with me for half the time, so I need a proper, family sized home!

Just another quick point about timescales. I know I declare myself BR at court and then either meet or talk to the OR's people face to face or on phone in a week or two. But how long is it before they close the file and loose interest in me and is there some kind of official paperwork at that time. After presenting your bankruptcy paperwork & seeing the receiver you could be discharged from bankruptcy as early as 6mnths later....usually though the bankruptcy order will last 12mnths.......stays on your credit files for 6 years though & your searchable in the London Gazette for eternity :rolleyes:

Thanks for your help all...it's a joy to read some of the stuff on here, even though we've all been in a pretty dark place!

BP

Hope that helps (a bit)