using existing credit towards BR fees???

nuttyp

i used my c/c to withdraw cash a few weeks prior to BR. Didnt mention it to OR, also took out another £100 which we kept for emergencys.

I know it will be frowned upon, but it was nice tohave an emergency fund!!!

JCS1

The OR will most likely turn a blind eye, but it is technially a BRO offence of "incurring credit with no reasonable prospect or repayment". But £500 is unlikely to be material to the overall debt and so it won't be taken further.

debtinfo

although many examiners may recomended that ED not be granted, azs that is easy to impose

missyp123

yes , this will be a VERY last resort if we really get stuck for the cash.
i dont want any problems with the BR its goings to be hard enough as it is.

missyp123

ThreeYearsAndCounting wrote: »

I took out cash on an Amex charge card to cover the fees, no problem with OR.

did you tell the OR this, or did they not ask?

missyp123

nuttyp wrote: »

i used my c/c to withdraw cash a few weeks prior to BR. Didnt mention it to OR, also took out another £100 which we kept for emergencys.

I know it will be frowned upon, but it was nice tohave an emergency fund!!!

thats the other thing we wont have any left for emergencies:( and they always seem to come up when the pot is not existant!

ThreeYearsAndCounting

missyp123 wrote: »

did you tell the OR this, or did they not ask?

I put it on the form. He mentioned it in passing, said it was OK. My overall debts were around £45,000, so I guess £495 (as it was then) wasn't a big deal.

immoral_angeluk

fermi wrote: »

It's not actually fraud. That is a common misconception

- Lying on a credit application may be fraud. (Fraud by false representation)
- Failing to disclose information that you are legally obliged to, and therefore gaining a financial advantage may be fraud. (Fraud by failing to disclose information)

Using an existing line of credit without any of the above is not fraud.

As said, it may however be considered a contributory factor when looking at a BRO/U.

hmmm fair point as you would just be using a facility already available to you rather than taking out 'new 'credit per se...

Cheers ferms

shazbo

why dont you use the money you would normally spend on the monthly shop to pay for BR and then put the shopping on the credit card?

Just a thought - however we did take money off a card to pay fees and nothing was ever said

curly04

This was one of the first questions I was asked "how did you pay your fee"
I'd not been credit worthy for years so I didn't have this problem but good luck