Priority payments - parents.

glamb

Hi, I go bankrupt shortly, and just wanted to get peoples thoughts on this.

After reviewing my statments for the last couple of years it shows that I have made quite a few payments to my parents(More than I originally thought) - this was generally when I got a bonus from work, redundancy money or got some tax back etc, I would give it to them to look after it for me - so I couldn't spend it, then when car insurance was due or we needed money for a car / house repair I would get the money back from them.

How is this going to go down with the OR - will they see any payments to my parents as 'priority payments' that I should have shared equaly between my creditors?

IF

Hi glamb, Do your parents pay you back by cheque or is there no paper trail?

dojoman

Did you actually owe your parents any money?

skylight

If they have kept money for you, for essential payments then did they pay the money back to you when you needed it?? So the OR could see the money coming back to you to be spent on these essentials?

If this more or less balances out, then I wouldn't worry about it too much as it's a fair explaination really.

glamb

They generally paid me back by either in cash when I needed it, or they paid for things for me direct from their bank - e.g. they used some of the money to by us a washer when we moved into rented accommodation, and they gave me back £300 cash for a car repair, but thinking about it there is no paper trail back to my account.