Inheritance and bankruptcy

charley_babe

Thank you for all your advice - some of it helpful and supportive and some of it very harsh and damning. I thought this was a place for support not condemnation.

I am NOT trying to pull a fast one or be dodgy. The 9k of redudancy I WAS going to offer as a lump sum but I was told I couldnt do that as the creditors would want me to have a job before accepting it, it took me too long to find a job and I had started to use the money for rent and bills etc.

I didn't go on holiday, I got offered a job and took it. A job is more important than a holiday.

My dad IS dying. He has less than a year to live as he has motor neurone disease and dementia. it is very sad to see him go down hill so much.

I am currently putting together an appeal with the employment tribunal service, representing myself as I cannot afford a solicitor. Any money I win (or don't lol) would go straight into my BR. I have good grounds on the basis of disability discrimination and bullying.

Regarding me giving preference to my dad over the other creditors, yes, this of course is true. But there were many years when I showed preference to the creditors instead and have paid far more to the creditors than my dad. And this has made our relationship far worse.

I had no choice but to go BR as my dad would not lend me any more money as I had not made any repayments to him in years. He is an accountant so would NEVER just give me the money even though he could easily.

I'm seriously thinking about giving up my job and going to care for him for his last year. I think it would be the proper thing to do.

I would rather have my dad alive than the money anyway. Money isnt as important as having a parent with you.

kepar

Some comments may seem judgemental, and although I so far haven't commented on your post I can be judgemental in my comments. Although most posters on here sympathise with your plight, some see it from a different perspective. As in if I was an OR and listening to you tell your tale how would I take it. Then I tell it how it is , I am blunt and not very diplomatic.
I would not criticise you for going bankrupt or even how you got there, we all have our own sorry tale. But sometimes it is the extras, like paying your father etc.
Posters will tell you that an OR will take exception to that and in 99% of the time they are correct , they are telling you from their own experience or from others that have posted on here. The OR will probably tell you that you have favoured a creditor and will get the money back from your father. Be careful not to push it with them as this can carry a BRO/BRU.

Is the appeal worth it if you are going to hand all the money over, and you might end up out of pocket if you lose.

My main concern about is that you have borrowed a large sum off your father over the years and run up other large debts, how will you manage without any credit once you have gone br. Have you an expensive lifestyle?????????????????????

fiveyearplan

charley_babe wrote: »

My dad IS dying. He has less than a year to live as he has motor neurone disease and dementia. it is very sad to see him go down hill so much. I'm so sorry to hear this. It would be prudent for him to take you out of his will and if he does live beyond your BR (providing you don't have an IPA) then he could change it back.

I am currently putting together an appeal with the employment tribunal service, representing myself as I cannot afford a solicitor. Any money I win (or don't lol) would go straight into my BR. I have good grounds on the basis of disability discrimination and bullying. it may be better to just leave this and concentrate your energies elsewhere - it is very stressful and if you aren't going to benefit not much point in going through it IMHO

Regarding me giving preference to my dad over the other creditors, yes, this of course is true. But there were many years when I showed preference to the creditors instead and have paid far more to the creditors than my dad. And this has made our relationship far worse.

I had no choice but to go BR as my dad would not lend me any more money as I had not made any repayments to him in years. He is an accountant so would NEVER just give me the money even though he could easily.

I'm seriously thinking about giving up my job and going to care for him for his last year. I think it would be the proper thing to do.

I would rather have my dad alive than the money anyway. Money isnt as important as having a parent with you.

comments in red above

charley_babe

I would like to carry on with the tribunal as I would like to repay some of the money to the creditors. I do feel bad about it all.

What is a BRO/BRU?

JCS1

Bankrupty Restriction Order - extends the BR restrictions for between 2 and 15 years.

You also need to check with the OR regarding the tribunal, as the right to action vests in them now.

tigerfeet2006

JCS, can I ask a quick question? How likely are they to pursue the £5k through the courts if Dad says he does not have it any more and can't repay it.

mel12

I'm really sorry to hear about your dad, and I hope you get all the bankrupcy stuff sorted soon x

JCS1

tigerfeet2006 wrote: »

JCS, can I ask a quick question? How likely are they to pursue the £5k through the courts if Dad says he does not have it any more and can't repay it.

With my usual provisio that hard to tell without knowing full details, etc, etc, the OR also has to be seen to be acting in the public interest (also the "how would it look on the front page of the local paper" test.)

Given the circumstances that the OP's father is in, and if he says he no longer has the money, I'd say it was unlikely. Whether they would wait and try from his estate, I wouldn't like to try and say.

debtinfo

of course in this case, the father does have it, does he not, since he might be leaving an inheritence

HOLIDAYMAD_2

charley_babe wrote: »

Hi guys,

Please could you give me some advice?

I declared myself BR on 28th March 2011 after many years of burying my head in the sand.

I have my interview with the OR next week and am terrified.

I know I will have to argue to keep my car – it’s valued at just under 2k (it’s a ford ka). I need it to visit my parents who are both quite ill and use it to get to work as transport isn’t really a viable option. I also have chronic fatigue / me so getting a bus with all the weeks shopping just isn’t an option.

I have three issues:-

1. I owe my dad nearly 30k and in Dec / Feb I repaid him 5k out of a redundancy settlement. Before this I hadn’t made any repayments to my dad in over two years as I couldn’t afford it along with my credit card payments. This upset him greatly and put a major strain on our relationship. He now has a degenerative illness and has maximum of a year to live.
He needs this money to buy a wheel chair and put towards his future nursing care (he will need to go into a private nursing home within a few months). Is there anyway I can get my dad to keep the money? I am sure the OR is going to seize it. They have said that the creditors will view it that I have paid my dad rather than them and they won’t be happy and I should be fair to all of them instead. However, the way I see it is that I paid the creditors for years and didn’t pay my dad a bean so now it’s sort of his ‘turn’. I am not trying to cheat anyone or hide money, I’m just trying to make things right with my dad and repay him what I owe him at a time he needs it most.

2. My main issue is inheritance.
As I mentioned, my dad has maybe a year to live. What happens if he dies whilst I am bankrupt and not yet discharged? As I am such a disaster with money, I think he has put any inheritance I am owed into trust fund that I cannot touch for several years until I have grown up a bit. If he dies before the discharge, can the OR demand the money which is in trust? Also, say I get left more than I owe with the BR would the OR only take what I owed or the whole lot??

3. If I am left a proportion of an asset in a foreign (EU) country, can the OR demand their share of that too?

I really am not trying to cheat the OR - I don’t want to make my relationship worse with my family (by having to sell either a share of a family property or being made to sell the whole thing etc.) No one in my family would ever speak to me again.

Many thanks for everything,

C

I was not being judegemental, and i did miss the fact that you had stated you had now been declared a BR, my comments were on looking at alt options with the future inheritance and overseas property.
but as you are now BR they are no longer a issue.

You do get asked the question by the judge though ie do you understand the long term implications of being a BR, before they grant the order.

You do appear highly concerned over your possible loss of inheritance etc and another poster had said you had asked the "what shall i do with my redudnancy money question pre BR" in a another post. So you still gave away that money at the point you had received it and that was following advise from MSE forum boards , you also gave a answer in your opinion as to why a holiday was more of a preference than a repayment to a creditor.
Regardless of whether you did go on holiday or not.


The OR is not a fool they may say prove every penny where that money has gone to and was it was necessary etc , they may question why your father couldnt fund costs himself as he has a property, obtain fiance against the house and why would he receive money from someone as in your words is a financial disaster.

They may write to him and ask him to prove he has disposed of it. i dont know im not the OR and cant second guess what they will be thinking.
The OR will be aware there is a lot of help for those that are terminally ill for aids and adapations and long term measures etc and wont be intrested if you found out or not.

I advised you to look at the BRO cases to get a idea of what the OR throws the book at and many BRO do appear really harsh.

What im thinking is you only went BR a few days ago and are now asking the same questions again pre the OR interview - that doesnt make sence , you must have had some idea of your intentions and a idea of the future in Dec/ Feb when you asked those questions and again the current suitation when you went BR a few days ago.

People on here take BR very seriously and dont want to feel they are being manuiplated with their good advise.

I couldnt care less if you had planned a holiday etc , or gave away money, but i think its important to be organised and accept the implications of being a BR.

You say your going to now pursue a tribuanal , unless you have worked for that employer for 12 months , i dont think you can, and a tribunal takes a lot of hard work to get the right answer, most fail and the payment is refective of the weekly salary you had and in reality unless your a top banker with a top lawyer it often pays peanuts , not years of expected salary . i get the impression you were only employed for approx 3 months.

My OR asked a lot of questions around my bereavement , as my BR contributed to a loss of earnings they also quested inhertiance so be expected to have to answer a lot of questions , my advise is not to use the argument you paid creditors over your father as you paid creditors over him previously. That wont go down well.

The very fact that people do respond to your posts is becuase we are trying help you but dont get your back up if with all not singing from the same hymm sheet.