Bankruptcy and completing form

927

I think bankruptcy is my only option. I’m completing the form and for the last three years my parents have been making ad hoc payments to help me out as I don’t receive child maintenance. These have become more regular as I’ve needed the money to pay my credit card bills. I’m worried the official receiver will consider these as maintenance payments and they will in turn be investigated. Worse still that my ex will be contacted and we have a very acrimonious relationship and I’m worried he’d use it against me. Obviously if my bankruptcy is granted I wouldn’t need any money from my parents as I wouldn’t be paying the credit card repayments. Can anyone help me with this?

National_Debtline

Hi 927


The best option is to be open and honest and explain the situation to the OR. If your parents have simply been giving you money to keep you afloat, but you will no longer need it once you are made bankrupt, or perhaps they can't afford to continue, that will be fine.


The only thing to consider is if they were loaning you the money they will need to be listed as one of your creditors. However if the money was a gift there should be no issue.


I would recommend seeking some advice on the whole bankruptcy process so you understand all the implications, and to ensure it is the most suitable option. You can get some free advice from one of the debt advice charities.


Best wishes


Susie
@natdebtline