Overpaid Tax Refund - Repayment of Bankruptcy!

gittarmann

Hello Everyone,

Last year my brother received an £8000 "tax refund". Normal people would query this as it seems like a lot! However he blindly went ahead and banked it and over the year spent it all! :mad:

He's now received a bill from HMRC asking for it back as it turned out to be a mistake (surprise surprise). They've given him a monthly repayment schedule which leaves him and his other half with minimal cash to live on per, or declare bankruptcy.

The annoying thing is that he's seriously considering the bankruptcy option and wrecking his financial profile for 10 years!

He's not got a very good credit rating so getting a loan to cover it (with a better repayment schedule) isn't an option and most of the immediate family are ineligible to get the loan for him.

I'm just wondering if anyone has any suggestions or ideas to help him out a bit?

Thanks! :eek: