loan

dryliner1

hi im in a bit of trouble.im br but have now received a letter for a loan that was guaranteed with someone else.he has paid his half but i dont have mine.i know they will go after him for the rest but for reasons i have to pay this amount.its 4000 each .im not discharged yet so what will happen if i pay it.would it be better if my dad paid it .any advice please as i dontknow what to do thanks

skylight

If you pay it you are committing a legal offence. You are no longer responsible for your debts and you are not permitted to pay one creditor over another; no matter whom that is.

The OR can reverse the transaction if you pay and slap you with a BRO.

sizzler

skylight wrote: »

If you pay it you are committing a legal offence. You are no longer responsible for your debts and you are not permitted to pay one creditor over another; no matter whom that is.

The OR can reverse the transaction if you pay and slap you with a BRO.

correct:) as said

philnicandamy

skylight wrote: »

If you pay it you are committing a legal offence. You are no longer responsible for your debts and you are not permitted to pay one creditor over another; no matter whom that is.

The OR can reverse the transaction if you pay and slap you with a BRO.

or suspend your discharge from bankruptcy till they say so...

jonliv

If your Dad wants to pay your friend £4000 from his own money I can't see how the or would become involved

It would be nothing to do with you

Unless the OR has miraculously gained influence over your friends and family

philnicandamy

jonliv wrote: »

If your Dad wants to pay your friend £4000 from his own money I can't see how the or would become involved

It would be nothing to do with you

Unless the OR has miraculously gained influence over your friends and family

if you read the 1st post the OP states he's received a letter about a loan he & someone else have gone into

hi im in a bit of trouble.im br but have now received a letter for a loan that was guaranteed with someone else/QUOTE]


...he's asking if his dad can pay the loan on HIS behalf which would cause no end of trouble...ALL debts should be listed on bankruptcy paperwork its a legal binding document you sign in court & the debt is no longer the bankrupts responsibility

jonliv

philnicandamy wrote: »

if you read the 1st post the OP states he's received a letter about a loan he & someone else have gone into...he's asking if his dad can pay the loan on HIS behalf which would cause no end of trouble...ALL debts should be listed on bankruptcy paperwork its a legal binding document you sign in court & the debt is no longer the bankrupts responsibility

Yes but his friend has now become liable for the whole debt ie OP's £4000 If OP's Dad wanted to pay this friend £4000 How would the OR have any input?

philnicandamy

its a debt that should have been included in the bankruptcy paperwork in the 1st place....sadly its tough the full ammount is passed to the person now not BR

jonliv

philnicandamy wrote: »

its a debt that should have been included in the bankruptcy paperwork in the 1st place....sadly its tough the full ammount is passed to the person now not BR

Well then Nothing to stop OP's DAD giving this friend the £4000

eh??

No crime in that is there?

Jono

philnicandamy

Not saying there is...but i'd imagine the loan co will query why the debts been paid by someone else rather than the OP AND...the receiver's not daft they check bank records statements etc & will see the loan payment to the OP query WHY a debt hasnt been included in bankruptcy then what eh?



.....I give up....

jonliv

philnicandamy wrote: »

Not saying there is...but i'd imagine the loan co will query why the debts been paid by someone else rather than the OP AND...the receiver's not daft they check bank records statements etc & will see the loan payment to the OP query WHY a debt hasnt been included in bankruptcy then what eh?



.....I give up....

Na the OP's friend would repay the loan with money given to him by the OP's DAD - No problem

The OR would not have access to OP's DAD's bank account

sorted