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Renting and need a bit of advice!
LMR_2
Posts: 2 Newbie
Hiya, We are currently filling out my partners bankruptcy forms. We rent a property off a close member of my family who charges us (£500) rent (this includes house insurance too as he owns the property).We pay in cash so only the cash withdrawal shows up on bank statements.
On the forms ive read we may need to produce a rental agreement however we dont have one and i was wondering how likely it is that the OR will ask to see one? as ive said we rent off a member of my family and as such have no formal agreement in place.
I also have a question about bank accounts, we decided to set an account up so money for bills could come out of it which is just in my name and my partner gives me the money to put into it, i was wondering how we will stand with this when he is bankrupt? do the bills have to come out of his own account so that the OR will release the money for it or will they be ok that he gives me the money for it?
On the forms ive read we may need to produce a rental agreement however we dont have one and i was wondering how likely it is that the OR will ask to see one? as ive said we rent off a member of my family and as such have no formal agreement in place.
I also have a question about bank accounts, we decided to set an account up so money for bills could come out of it which is just in my name and my partner gives me the money to put into it, i was wondering how we will stand with this when he is bankrupt? do the bills have to come out of his own account so that the OR will release the money for it or will they be ok that he gives me the money for it?
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Comments
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the OR will be contacting your landlord so shouldn't be a problem if you don't have a contract,the bills too aren't a problem either,the OR does not have control of his money,just needs to know what his expenses are and will come to an agreement how much is allowed to be kept for them,how you pay them is up to you.0
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As you do not have a rental agreement then the OR will likely want to write to your landlord to confirm the terms of the rental and how much rent you pay.
Your partner could open either a Co-Op Cashminder or a Barclays Cashcard account to use during their BR year, then they could just set up a standing order into your account for the bills each month. The Co-Op account allows both internet and telephone banking but the Barclays account has these restricted until after discharge, both accounts come with a debit card.
When filling out the forms to petition for their BR your partner will need to detail their income and expenditure, including what they contribute towards the joint household expenditure. If there is minimal banking records to prove payments then the OR may ask a few more questions during the interview, but as long as nothing is excessive there shouldn't be a problem.When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
This site - and others - offer free tenancy agreements.
Might not be a bad idea to have one anyway.
Or you could buy a simple rentbook from WH Smith.
http://www.visum.co.uk/free-tenancy-agreement.aspx0
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