Borrowing BR fees

uptomyeyes1984

Hi can anyone tell me what happens if you borrow BR fees from a family member?
does the OR take this in to consideration when they go through your budget?

thank you for your help.

skylight

No. The OR cannot take it into consideration. Its a debt incurred before BR (to borrow the fees) and thus has to be included in your estate; the OR cannot make exceptions.

However, if you want to repay the debt out of your surplus then you can do what ever you like with it.

But, the OR does seem to turn a blind eye to getting cash on a credit card to pay the fees. Could you do that or an overdraft rather than borrow?

uptomyeyes1984

skylight wrote: »

No. The OR cannot take it into consideration. Its a debt incurred before BR (to borrow the fees) and thus has to be included in your estate; the OR cannot make exceptions.

However, if you want to repay the debt out of your surplus then you can do what ever you like with it.

But, the OR does seem to turn a blind eye to getting cash on a credit card to pay the fees. Could you do that or an overdraft rather than borrow?

thanks you help out alot with my questions our cards have been suspended now as i missed 1 payment lol the 1st of many till we save up. and were maxed on our overdraft unfortunatly.

so they couunt it as a debt to, if we had any assets (which we dont) the family member would have got a cut of what the OR takes and sells am i right? obviously if we did borrow it i would pay bk what i can when ever i can.

missyp123

is there no way of you saving the money from the monthly debt payments you are now not paying?

if you borrowed off a family member and put them down on the bankruptcy im not sure they would get allott. i think i depends on the other debts amounts how any assests/money gets split.

it has took me 5 months to save for rent, deposit, and BR fees this is from money i would have payed on my mtg and loans etc.

is there anyway of getting extra shifts and budgeting? this helps more then you think!

curly04

It also took me a good few months to save the money

You get a lot of calls and letters but its worth it in the end

uptomyeyes1984

missyp123 wrote: »

is there no way of you saving the money from the monthly debt payments you are now not paying?

if you borrowed off a family member and put them down on the bankruptcy im not sure they would get allott. i think i depends on the other debts amounts how any assests/money gets split.

it has took me 5 months to save for rent, deposit, and BR fees this is from money i would have payed on my mtg and loans etc.

is there anyway of getting extra shifts and budgeting? this helps more then you think!

we get paid fortnightly, we knew it would take a good few months and we've not been paying the bills we havent got much saved as the bill were being paid with overdraft money anyway. were lucky enough to have been offered the money by a family member they said we dont have to pay it back but i said we will and they said it doesnt matter how long it takes. i actually breathed a sigh of rrelief today