In court on Wednesday....

dalip

Desperate+Depressed wrote: »

Here goes with the 2nd version of my "causes". Would be grateful of any advice x

I took a £10,000 loan out in Aug. '07 to use to consolidate an HSBC loan of £6,969.88 and £2,500 owing to parentsare you aware they may contact your parents to either confirm that payment or ask for it back?. The remainder was to put my a/c in the black

Unfortunately in Sept. '07 I had to leave work unexpectedly due to ill health and start to claim benefits of approx. £100pw. Due to the lack of income, I struggled with the loan repayments, but saw this as a short term problem. I started to use a credit card to tide me over and help pay the loan.

Feb. 2008 I returned back to full-time work. In April 2008, due to improved financial income, I took out a £7,000 loan with HSBC. £1,752.11 was used to pay towards credit card, £1,501.88 for a new sofa and the remainder for home improvements.

Oct. '08 to consolidate debt with a better interest rate and to lower my monthly re-payements, I took out a Tesco loan for £9,000. This paid HSBC balance of £6,516.60 and remainder for car repairs and home refurbishments.

It is with regret I now find myself in the position of petitioning for BR. I have over £27k debt, with little ability to pay my creditors as I am now in receipt of benefitswhy are you back on benefits?. I have taken advice from CCCS, who have advised I petition for BR.


Have I waffled too much???????

No you have not waffled. Sounds goo except the two points i have made.Dx

Desperate+Depressed

dalip wrote: »

No you have not waffled. Sounds goo except the two points i have made.Dx

Oh flip (I'll be polite)!.....no didn't realise that re parents. I don't want them to contact my parents........nobody else knows of my situation

Should I not mention the loan off my parents then, just mention the HSBC bit?

Back on benefits due to wanting to become a TA (Teaching Assistant).....catch 22 because you can't take the course unless you are in a placement, and I can't be in a placement if I'm doing my 9-5 office job. (Vary rare you can get a TA job without at least a level 2 qualification). So I had no choice.....I could either stay where I was, or follow my dream and have to go back on benefits as short term measure

Will the OR have something to say about this??

fiveyearplan

If you paid your parents by cash you could say you did anything with the money - usual living expenses etc. Its not that huge an amount that couldn't be absorbed elsewhere - like maybe into the refurb bit - you could have bought some soft furnishings etc.

The OR will say nothing about you being on benefits while you are getting your qualification.

Desperate+Depressed

FYP......it shows on my bankstatement as a payment to XXXX (mom's name).........bloody, bloody !!!!!! and damm it!

debtinfo

ahem, preference payments to parents are recoverable only if they happened in the last 2 years before BO date, since the repayment was in August 2007 and we enter september 2009 in 3 1/2 hours the money will not be recovered from them

Desperate+Depressed

So what am I to do? Should I leave it in, or type it again without mentioning it?

x

debtinfo

you will be asked at the interview what you did with the money and you should always be truthfull with the OR, i would mention it then

Desperate+Depressed

So.........if I amend it to read "took northern rock loan out in August 2007 for £10,000 to consolidate a previous loan from HSBC with a balance of £6,969.88 and to put my bank account back in black"

x

fiveyearplan

Looks like you should just say then if its in black and white on your bank statement. You don't want to look like you're hiding anything. Also, IMHO, it isn't a preferential payment as you didn't know at that time the financial situation would lead you to not being able to pay your creditors.

morty1963

More More is that not how we all got into problems lol