Bankruptcy Add Ons

awga6605

Hi

Just some additional information regarding my thoughts on going BR.
I rent my home and my car is leased other than that i don't have any assets.
One other thought i'm at stage 2 in reclaiming my Bank charges, i've previously banked with the Yorkshire and HSBC and owe the Yorkshire £150 and HSBC 18K,(Not my fault, a failed business venture) Hsbc have passed it on to a collection Agency and i pay them £30 a month and i pay Yorkshire Bank direct £1 a month, How do i stand with regards to claiming back the Bank charges, do they have to pay me or will it just go to pay off what i owe?
Alternatively shall i get the money back and then go BR?

Many thanks

wherediditallgo

Either way, you'll have to tell the OR about it. If you go BR & then reclaim it, you'll have to tell the OR about whatever money you get within 21 days of receiving it. If you reclaim it, get it & then go BR, the OR will see it on your statement & will want to know what you've done with the money - the attitude they take will largely depend on how much money is involved. A couple of hundred & I doubt they'd care less, several thousands & they'll want to know where every penny's gone.

If you get the money first, don't settle some of your debts with it (unless that person isn't going on your SOA), as the OR will think you've treated those creditors as preferential creditors, which won't go down well. Either give a bit to all of them, or give none of them any. If you're planning to go BR in the next few months, let the OR decide what should happen to the money unless there's some genuine emergency that has to be paid for.