transaction undervalue

Panda07

Hi anyone with advice will gladly recieved.
I have been summond to pay my boyfriends debt of £11000 by his bankruptcy official recievers. this is because my boyfriend put the money into my account and stupid me didnt know he had an order neither did he.
anyways cut along story short, his money in my account because he has no bank account (dont trust them!) and he spent it all booking a trip for all the his and my kids to go disney. all cost on my visa as proof.
however due to bankruptcy his creditors want the money back from me, but i never spent it on myself,family or home. i have even remortgaged my home around the same time and in debt up to my eyes. what will they do to me. its not fair i dont want to lose my home to pay his debt.

Emmzi

I am not following

1) 11k on a holiday??
2) how is a holiday for your kids not spending on your family?

can yu explain a bit more? where did the rest of his 11k go?

skylight

"Summoned". In what sense? Has a court issued a demand for payment or has the OR simply requested payment from you??

nervousmother

How come your BF did not know he had a BR order? where did the 11k come from? i mean did he borrow the 11k?

fermi

If you paid for it on your credit card, then legally it is your debt. Not his.

The OR is entitled to ask you to return the £11,000.

Through the courts if needed.

I think the only thing you can really do is explain the circumstances and hope that they will understand.

Presumably you can't pay the £11K?

In_a_Mess_3

What the others have said really, 11k is an awful lot for a holiday, and it has been spent on your family as they got a holiday out of it.

And where did all that money come from? The Or will be asking you for the money as in their eyes he should have paid his debts with it rather than splashing out on an expensive holiday.

fermi

I notice that you mention "his creditors"?

Who is making the demands here? The OR/trustee or his actual creditors?

If the latter, then they can "naff off". They must go through the OR.

nervousmother

josie1974 wrote: »

Hi anyone with advice will gladly recieved.
I have been summond to pay my boyfriends debt of £11000 by his bankruptcy official recievers. Is 11k the amount of money he has been made bankrupt for? im presuming if he didnt know about BR it was a creditor petition and he did not choose to go BR? this is because my boyfriend put the money into my account and stupid me didnt know he had an order neither did he. What money did he put into your account? his weekly/monthly wages im a little confused.
anyways cut along story short, his money in my account because he has no bank account (dont trust them!) and he spent it all booking a trip for all the his and my kids to go disney. all cost on my visa as proof.
however due to bankruptcy his creditors want the money back from me, but i never spent it on myself,family or home. i have even remortgaged my home around the same time and in debt up to my eyes. what will they do to me. its not fair i dont want to lose my home to pay his debt.

Sorry I thought i would post again as after reading i was confused. Your BF never had a bank account? so he uses yours? and he paid money into your account? did he actually borrow any money from anyone and have it paid direct into your account?

At the end of the day, If the OR knows money has been given to you he will ask the creditors if they want to persue it, and for 11k it is worth them doing so.
He may well take you to court to try and recover the money, you need to write to them to find out why they think you should pay this money? and point out that you do not have it. Not many cases end up in court when the OR is trying to recover the money as it costs a bit to get it to court so they must feel they have a strong case.
If you dont have it you cant pay it. If the court finds in their favour then all you can do is try to come to a agreement to pay a small amount per month..

Panda07

sorry I wasnt very clear with my message, boyfriend had £11000 from sale of his house i had only been with him 6 months. He had a bank account which i opened for him but they told him he couldnt make large withdrawals it was like a savings. we just could seem to get him set up with his own account. so anyway thats why he put money into my account which i really didint like and i even informed my bank of the transaction and that it belonged to my BF. he was made BR un be knowing to him. anyway he said he would like to take his and my kids to disney florida (six of us) . how generous.so i thought. anyway while this happening he had a letter go to his ex girlfriends house explaining he not been keeping up payments to his creditor! ex girlfriend didnt tell him just threw them away. boyfriend gave all money to ex girlfriend to pay his bills and she pocketing it instead. (boyfriend niave stupid idiot) he dont like banks he trusted her.
so anyway we booked holiday on my card and used card for saftey as advised by bank and paid off some money before we went,set up payment in the middle of holiday and when we got back paid the rest. we spent all of it 5 adult tickets and one child and all the luxury including a villa etc..we could. I wasnt looking a gift horse in mouth, i didnt want to go i told him to save and make a fresh start but he was adamant.
BF has admitted its his debt and he will pay it to OR but he has no asssets where I do!!!
anyway i have told official reciever i will pay my half of holiday costs its not fair i should pay his debt when i knew nothing about it. But its gone to their solicitor requesting £11000. of course i would never of gone on a dream holiday knowing this but noone believes me even though i have good credit myself. i have never missed payments or got myself in trouble ever before now im scared i will lose my home.

debtinfo

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Radiantsoul

josie1974 wrote: »

sorry I wasnt very clear with my message, boyfriend had £11000 from sale of his house i had only been with him 6 months. anyway he said he would like to take his and my kids to disney florida (six of us) . how generous.so i thought. anyway while this happening he had a letter go to his ex girlfriends house explaining he not been keeping up payments to his creditor! ex girlfriend didnt tell him just threw them away. boyfriend gave all money to ex girlfriend to pay his bills and she pocketing it instead. (boyfriend niave stupid idiot) he dont like banks he trusted her. so anyway we booked holiday on my card and used card for saftey as advised by bank and paid off before we went in the middle of holiday and when we got back. we spent all of it 5 adult tickets and one child and all the luxury we could. I wasnt looking a gift horse in mouth, i didnt want to go i told him to save and make a fresh start but he was adamant.
anyway i have told official reciever i will pay my half of holiday costs its not fair i should pay his debt when i knew nothing about it. i have never missed payments or got myself in trouble ever before now im scared i will lose my home.

You might lose your home if you have any equity in it. Thinking at it from your creditors point of view that £11k should have gone on repaying them and not on a luxury holiday. Also I wonder if your boyfriend really didn't not trust banks and was rather hoping to deliberately defraud his creditors by putting some money out of their way and enjoying a great holiday.
You can probably try to negotiate with the OR, but you don't have a moral or legal case that you should only pay half the holiday costs.