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Advice on being involved with someone else´s banruptcy
mrsketchup
Posts: 4 Newbie
Hi,
Just wondering if anyone can help in my dilema. A friend of mine lent me some money last year and I am now out of a job and unable to pay back the debt. She is now saying that she has to go bankrupt and therefore declare the loan as money owed to her.
It was nothing formal, just friends helping each other out.
What will happen if she names me in her bankruptcy? If there is nothing signed is she allowed to name me??
Just wondering if anyone can help in my dilema. A friend of mine lent me some money last year and I am now out of a job and unable to pay back the debt. She is now saying that she has to go bankrupt and therefore declare the loan as money owed to her.
It was nothing formal, just friends helping each other out.
What will happen if she names me in her bankruptcy? If there is nothing signed is she allowed to name me??
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Comments
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The OR will write to you asking for the amount to be repaid. What action, if any, they take after that depends on the amount. How much do you owe?0
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How much compared to their total debt?
EDIT: beat to it.
Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
I owe her 1,000 but the amount of bankruptcy is well over 5 million.
Also another complication is that I dont live in the UK anymore.0 -
mrsketchup wrote: »I owe her 1,000 but the amount of bankruptcy is well over 5 million.
Also another complication is that I dont live in the UK anymore.
I suspect her OR has bigger concerns then.
Plus if you are abroad, then they may have trouble enforcing any payback.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
£5 millon debt and she wants £1000 back have i got this right0
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Holes_in_my_pocket wrote: »£5 millon debt and she wants £1000 back have i got this right
haha.. yes you have got it right, but a debt is a debt!0 -
Expect the OR's will be more concerened with the extent of her debt (5 million - OMG!!! sorry havent seen one on here that big).
As you are abroad as well would imagine it would make it very difficult for OR to enforce, especially if there was nothing in writing.DMP Mutual Support Thread Member : 3180 -
Must have a monoploy of debt. Why is there only one monoploy commisson0
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Is it your friends personal bankruptcy or is it a limited comany liquidationHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Its a company bankruptcy, but it is affecting her home etc etc0
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