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Bankruptcy help

10 replies 464 views
Hi 1st post  so please bear with me in got made bankrupt on the 17th of February,I had a dro but received a ppi  refund which meant dro ended so with the money I received  i paid bankruptcy fee and gave the rest of the money to family that I owe thousands too I never heard of  preferential payment until the or said where has the money gone the thing is I suffer from serve depression  and I'm having sleepless nights worried  about these payment is really don't want my parents  to be involved with the bankruptcy  as they are in ill health  can someone please tell what we happen and I still haven't received the 3 forms  to sign any help is really  appreciated 

Replies

  • thevdmthevdm Forumite
    136 posts
    100 Posts First Anniversary
    Hi,
    From my understanding, it may be possible that the OR will request the preferential payments be returned and divided by your creditors. If you haven't spotted it yet, there is some information on the StepChange webiste https://www.stepchange.org/debt-info/bankruptcy-family-friends-loans.aspx 

    The best thing to do will be to wait until you hear back from the OR, in my case I received the forms about 3 or 4 working days after the phone interview with the OR so hopefully they won't take long to arrive.

    As hard as it may seem, it's best not to worry about it too much, I'm sure it will work out well in the end.
    I may be wrong sometimes, I learn a little every time I'm corrected.
  • gazza1209gazza1209 Forumite
    24 posts
    10 Posts
    Im seeing Dr tomorrow  to up my Meds hopefully that will help and I will get some sleep many thanks for the reply 
  • RattyIrkRattyIrk Forumite
    58 posts
    10 Posts
    I had my interview after a couple of weeks then a month to two months later got the financial questionnaire.  
    interview was fine so don't worry.  First part always seems to be the worst from what I went through and others have said on here.  
    They may ask for money to be returned.  Depends to an extent how much it is and if they deem it worthwhile.  If more than a few hundred they will likely make something of it but not like you will be thrown in jail or anything.  
    Once you have got interview and financial questionnaire out of the way you will feel much better about things.  
  • diggingdudediggingdude Forumite
    1.7K posts
    1,000 Posts Second Anniversary Photogenic
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    RattyIrk said:
    I had my interview after a couple of weeks then a month to two months later got the financial questionnaire.  
    interview was fine so don't worry.  First part always seems to be the worst from what I went through and others have said on here.  
    They may ask for money to be returned.  Depends to an extent how much it is and if they deem it worthwhile.  If more than a few hundred they will likely make something of it but not like you will be thrown in jail or anything.  
    Once you have got interview and financial questionnaire out of the way you will feel much better about things.  
    Any idea what happens if family refuse to return the money?  Friend of mine is in a similar situation
    House owner as of 27.3.2019 :j
  • RattyIrkRattyIrk Forumite
    58 posts
    10 Posts
    Guessing really but they could I imagine apply for a court order as family had been treated as preferential creditors and funds had been given to them to put it out of reach of other creditors.  It will be some kind of court application anyway.  If the family then do not comply they could apply for enforcement proceedings which could lead to knocks on the door, bailiffs etc.  
  • gazza1209gazza1209 Forumite
    24 posts
    10 Posts
    Just a quick message  got the letters today they want to know my family's addresses and how much I paid them but have told insolvency I don't want family involved as mum just had  heart surgery and dont want her stressed so now got to wait and see again
  • MEM62MEM62 Forumite
    3K posts
    Sixth Anniversary 1,000 Posts
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    RattyIrk said:
    I had my interview after a couple of weeks then a month to two months later got the financial questionnaire.  
    interview was fine so don't worry.  First part always seems to be the worst from what I went through and others have said on here.  
    They may ask for money to be returned.  Depends to an extent how much it is and if they deem it worthwhile.  If more than a few hundred they will likely make something of it but not like you will be thrown in jail or anything.  
    Once you have got interview and financial questionnaire out of the way you will feel much better about things.  
    Any idea what happens if family refuse to return the money?  Friend of mine is in a similar situation
    If the amounts involved make it worthwhile for the OR they will pursue the relatives via the court.  
  • MEM62MEM62 Forumite
    3K posts
    Sixth Anniversary 1,000 Posts
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    gazza1209 said:
    Just a quick message  got the letters today they want to know my family's addresses and how much I paid them but have told insolvency I don't want family involved as mum just had  heart surgery and dont want her stressed so now got to wait and see again
    Whilst I appreciate the fact that you do not want your mum, or other family members embroiled in this situation, unfortunately you have no influence over that at this stage.  Refusing to co-operate with the OR will have serious consequences for you and may also cause additional difficulties for any family involved.  At this stage all you can do is be co-operative and hope for the best.     
  • gazza1209gazza1209 Forumite
    24 posts
    10 Posts
    Ive spoken to my parents and they will give me the money back so as soon as I hear back from or will send it to him I've spent some money on the kids only essential clothing and stuff also brought a new cooker and washing  machine  that will be ok though won't it? 
  • thevdmthevdm Forumite
    136 posts
    100 Posts First Anniversary
    If the cooker and washing machine were under £500 it should be fine, I replaced the cooker a week before going bankrupt, as it was under £500 the OR didn't even mention the payment on the account. If it's over that amount, they are important things to have, especially with kids so the OR should hopefully understand.
    I may be wrong sometimes, I learn a little every time I'm corrected.
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