Online Soa

Toon_Dave

Hi everyone,

i have decided on BR, just filling in my online SOA to get it started.

i have a query regarding a question.

3.6In the last 2 years have you made any payment to a creditor, other than in the ordinary course of business, with a view to improving the position of that creditor in case you became subject to insolvency/bankruptcy proceedings?

i have been paying smaller fixed payments via a dmp after consultation from the CAB. Is this where i list these smaller monthly payments or does it mean have i made big lump sum payments and therfore showed 'favouritism' for one creditor?

im not 100% sure what to put for this question.

Cheers, Dave.

skylight

Personally, I left this blank as I considered my DMP type payments as a normal course of business. I assumed it meant larger lump sums.

Someone else may have a differing opinion.

Toon_Dave

cheers m8...thats what i thought...i wasnt too sure...i will see what the consensous (?) of opinion is on this one before i submit form. i'm gonna have more questions so i guess this thread will be well used!!

Thanks SL.

Dave.

fermi

It's really asking if you have paid one unsecured creditor back in preference to any other knowing that you would be going bankrupt.

One example of that would be paying back a loan from a friend/relative etc so that your debt to them wouldn't be included in the bankruptcy.

Normal day to day payments to your creditors (even under a DMP) don't matter for this.

Toon_Dave

Hi Fermi,

Thanks for that info. thats what i was kind of thinking but nice to get a more experienced answer...

Cheers.

Dave.

Toon_Dave

my Ex GF dad cleared some of the debts immeadiatley after we split up to give some breathing space. do i need to list these? or because i didnt pay them personally would that matter?

fermi

Toon_Dave wrote: »

my Ex GF dad cleared some of the debts immeadiatley after we split up to give some breathing space. do i need to list these? or because i didnt pay them personally would that matter?

It wasn't paid by you, and wasn't done to gain an advantage if you went bankrupt, so it shouldn't be declared there.

Toon_Dave

fermi wrote: »

It wasn't paid by you, and wasn't done to gain an advantage if you went bankrupt, so it shouldn't be declared there.

:T Thanks Fermi.

Yep, at the time i didnt even know about insolvency etc as i may have paid a couple of small ones my self too, about a year ago...do i need to find these details or just 'forget' about them? They were only about £100 or so??

fermi

Not worth bothering over a £100 or so.

It's quite possible that the OR will ask about the other larger payments your ex's father paid, but if they can confirm the details it shouldn't be a problem.

Toon_Dave

Fermi,

i wont mention them then unless they ask. I think alot of them were in her name only or joint so probably doesnt affect me too much..i think i have the details some where. But im sure i can find it if im asked about it. What they dont know doesnt harm them.

I could just play ignorance and say that i wasnt aware that they had been paid for already by a thrid party?

Hmmm...gets more and more entriging on everyline..

Dave.

fermi

I doubt you could plead ignorance on the bigger payments, but since they don't need to be declared in Q3.6 then you don't need to.

But if you are asked about them later it's best to be honest. Nobody has done anything wrong.