Advice needed please

Jaggoman

Hi all, BR approved, interview done, mentioned in interview I borrowed the money from family and friend, but did not include in application as they know my financial problem so they did write off.
So OR wants the details of personal creditors their names, addresss, phone numbers, and amounts If not paid, will be added to creditors list and will be informed of BR.

Will my family members or friend will be investigated?
So what's legality involve to provide their details, one family member is overseas.
some one can help me regarding above matter. I will fully co operate with OR.

srg0916

Hi and congrats on joining the BR club! I recently done mine and had my interview, I haven't heard anything so far after sending back the forms they send out to fill in.
It really depends on what you want to do. I believe that if you want the family debt included in the BR then you would disclose what you owe and give contact info for those people. I didn't want to include my family debt in mine as I didn't want the hassle for my family. Maybe speak to your family who you owe money to explain the situation and ask if you can pay them back separately outside the BR (even if this is after BR has ended) at least that way they are going to get back what they loaned to you. If you don't want to pay it back then include it.. It's up to you really.. I don't think if you left it out there's alot they could do to prove otherwise..

fatbelly

The problem is that it has now been declared where you got the fees from.

The person who donated the money needs to clarify whether it was a loan or a gift.

A gift is fine but, if it's a loan, then they must be listed as a creditor and you are not allowed to treat them preferentially

srg0916

They asked me who gave me the money, I told them my family gave me it. They didn't ask for their contact info. If asked I'd tell them that it was given as a gift and you don't need to pay it back. I'm pretty sure if you then decided to repay your family back they would have the ability to police this, as long as you paid it back in cash?

fatbelly

Jaggoman wrote: »

mentioned in interview I borrowed the money from family and friend

srg0916 wrote: »

They asked me who gave me the money, I told them my family gave me it.

That's the fundamental difference between the two of you.

PaulL2

Where are fees mentioned in the OP?

If someone has written off money they have given you, it's of no interest to the OR or anybody at all. IF you save some cash along the way (savings from your SOA or whatever) and you 'pay it back' nobody knows or cares.