Money, Money, Money!

charliewalsh

A few questions, I hope someone can give me some guidelines:

In 2005, lent my name to my brother and his girlfriend to start a restaurant business - they are not British citizen, on work permit, so asked me to help. I agreed. Things went alright (so i thought) until Sept 06, they disappeared back to home country with 30,000 pounds and I was left with huge debts. Since then, I have been juggling the debts and my life. There was a point, I nearly committed suicide - if it's not because of my then 2 year old daughter, I will not be writing this thread tonight.

1) In the section where 'Do anyone owe you money' - can I put the name and details of my brother and his girlfriend and the amount they took away? I have account to prove they have stolen the money from the business Or am i complicated things in doing so and will it destroy any chance of ED that I may have? I just want to put an end to all these - if it will affect any possibilities of ED, I will just keep quiet about it.

2) I have stopped paying the credit cards bills this month to save money for BR - how long do I have before they call in the bailiffs? If the bailiffs came before I go BR, will the debts be written off after I go BR?

Please advise.

peachyprice

Hi Charlie,

Yes you can put them on the forms, the OR will chase them for the money they owe you, you won't get it back, the OR will keep anything they do get, but at least they won't get away with it.

It will not have any effect on your discharge or bankruptcy. If you didn't put them on the forms and the OR found out they'd taken the money by looking at your bank statement you would be in trouble.

You have a long time before bailifs come, they will have to get a CCJ at court first, it would take at least 6 months to get to that stage.

k2nga

Well i would say from the law point of you as you "lent" him your name you gave him permission which is against the law in its own right anyway so i would keep it quiet and take it all on the chin if i was you.

It will take them months to get baliffs to you so you dont need to worry there unless you are going to take months to save up the fee's.

charliewalsh

Thanks, Peachyprice and K2nga - I know it was the most brainless thing that I have ever did in my entire life! Never thought my very own blood brother will do such thing to me.

Thanks for the advice.