Do I Declare Paypal?

AmIdone4?

Agreed, That is a good idea by Waspeze, or transfer it to someone else and get them to give you the money to use for your BR .

caseyj

surely your not going to leave the money in the paypal account,and tell the o/r,that would be crazy,

caseyj

maybe im not the best to give advice then:rotfl:

blind-as-a-bat_2

As for the OP not disclosing a Paypal account getting him/her into trouble would depend on wether it was deemed to be hiding an asset of value or not

The problem is that the BR forms ask how much cash you have at the time of BR that is a) in a bank account and in hand. It also states you must disclose any bank accounts held in the last two years.

In Short the OP should disclose the money but as the paypal account isnt a bank account there is nothing to say that must be declared, just the funds in it.

Whether the OR will be intrested would depend on just how many hundreds you have and wether you can show they are to cover your day to day living expenses for the period after BR.

caseyj

seriously though, they werent interested in my paypal account or ebay,as long as your just buying and selling personal items of little value

empty_wallet_2

I never declared my Paypal account and i had loads of transactions on my bank statements for transfering funds in from sales and loads of transactions on my CC statements for purchases and i even highlighted some on my covering letters explaining what i had purchased and the OR never mentioned them during my interview and not heard anything over the last 10 weeks. So i would say dont bother mentioning it, as in theory its only a payment provider and not a bank account.

I also think that paypal europe is now registered in Luxembourg (for vat/tax purposes) so not even sure if the OR would have any jurisdiction over the account.

renegadefm

Hi everyone..I am so nervous with my interview with my Official Receiver tomorrow at 10am..Can you please give me some hints what they usually ask?? the common questions they usually ask i mean..what i should remember to say or not to say etc...Thanks!

Waspeze

renegadefm wrote: »

Hi everyone..I am so nervous with my interview with my Official Receiver tomorrow at 10am..Can you please give me some hints what they usually ask?? the common questions they usually ask i mean..what i should remember to say or not to say etc...Thanks!

Hi Renegade, hope it goes ok tomorrow for you

My OR literally just went through my SOA.. asking a few questions as we went along, was very straight forward (though all my debt was over two years old).
I know some people have had a bit more of a grilling but my only advice is be prepared to answer anything regarding your SOA (particulary what you may have spent credit on .. if it was just to consolidate, say that) and maybe noticably large withdrawals from your account (though i wasn't asked about this and every month i drew out over £500 cash on payday )

There's another thread by colmac thats got a few good suggestions on how to be prepared.

caseyj

he asked me what id done with all my cash advances mostly,about cars bought and sold,and why i kept spending when i couldnt pay it back