what details

mum2one

Sorry to ask - but wondering if you go for bankruptcy how far you have to provide bank statements for? A friend asked me as she knows I'm on a DMP and that bankruptcy was a suggestion in 1st place but I went down the DMP route,

These are what i can't help her with

The dates credit cards opened, can you get that information from your debtors?

Shes 6mths into a dmp which is est 10 yrs - but her household expenses going up, incoming coming down - by putting the figs in as a new person it suggests DMP

What happens to money that she is a trustee for - for her daughter - that has been given by the grandparents

dojoman

It is usually 12 months statements but don`t worry if you don`t have them as the OR can get them direct from the bank/cc company. I only had a couple of months worth but it was not a problem.

You can get your start dates for your cc`s form the CRA`s that is what I did:)

arcon5

I didn't have any bank statements at all. The OR said it doesn't matter, she can get them from the companies herself if needed

Mouse1812

mum2one wrote: »

What happens to money that she is a trustee for - for her daughter - that has been given by the grandparents

This money DOES NOT belong to her estate and must not be taken by the OR. The circumstances must be clearly communicated to the OR and evidence produced to show it is being held on trust and not borrowed.

Hopefully it is sitting in a separate nominated bank or building society account.

mum2one

Mouse1812 wrote: »

This money DOES NOT belong to her estate and must not be taken by the OR. The circumstances must be clearly communicated to the OR and evidence produced to show it is being held on trust and not borrowed.

Hopefully it is sitting in a separate nominated bank or building society account.

Thank you, just checked with my friend and it clearly says Miss xx as trustee for Miss xx - seperate bank account from where she has hers, xx

mum2one

Can I just say thank you on behalf of my friend, just shes on here but her b/f knows her username - but not the debt probs shes in...hence I have wide shoulders!! xx

arcon5

If her BF = long term partner I would strongly recommend she does tell him and tell him if bankruptcy is her route of choice. He will find out eventually and hiding something like this could do a lot of damage

Mouse1812

mum2one wrote: »

Thank you, just checked with my friend and it clearly says Miss xx as trustee for Miss xx - seperate bank account from where she has hers, xx

Perfect :T

From OR technical Manual:

30.6 Other exempt property (amended May 2010) In addition to exempt property as described in paragraph 30.4, the following property is also excluded:
(a) Property held by the bankrupt on trust for any other person,