BR question

[aragorn]

Hi,
just wanted to ask a question. In the great scheme of things this is a trivial question but i wanted to ask it all the same.

As i have metioned in past post's after 2 years in IvA and change of circumstance we are considering all the scenario's one being bankruptcy.

My question is: i have a holiday booked for the end of this year, this was paid for in Jamuary from birthday and christmas money for the benefit of our daughter from family as opposed to presents as they are aware of our situation.

If the holiday is cancelled we will get back £723.00- if going bankrupt do we have to declare the booked holiday and cancel it?

I will also feel guilty going on holiday but it was a gift and i think pur parents will be disapointed if we had to cancel it.

Any thoughts?


Thankyou.

[jane.l]

I would go on the holiday, just my opinion [8D]

[Skippy]

I don't see any reason that you would have to cancel the holiday. Dave took me on holiday last year and it didn't even occur to me to tell the OR. I actually have a holiday allowance in my BR expenditure!

Go and have a good time!

[aragorn]

Thanks just wanted to make sure that it did not look like i was not disclosing a could be 'asset'.

As my husband always tells me - I worry about everything!

[scaredkez]

i too would go on the holiday it will give you something to look forward to, like skippy we had a monthly allowance of £150 for a family of 5 towards an annual holiday, so i can't see the OR having any objections to your gift.
kerri

[chris.g]

Aragorn, go on holiday and enjoy your birthdays/christmas pressies.... You deserve to relax and have some enjoyment.
xx

[broke100]

Hi - word of warning

We went BR last year and had a holiday booked for this Easter (This was booked before BR and we did not tell the OR about it as we did not see the need to)). Due to the IPA agreement we did not have sufficient funds to go on holiday (spending money etc)and so cancelled the flights. This money was paid back into my bank account (which had been closed after BR by the bank even though this bank was not included in the BR). The bank wrote to the OR telling them that a credit had been made by an airline. The OR then sent me a letter stating that this was a pre BR asset and therefore belongs to them. So in a nut shell bye bye holiday and bye bye any chance of getting any funds back.

[Skippy]

But surely if the holiday is paid for as a gift (as in Aragorn's case) then it doesn't belong to the OR and if the holiday had to be cancelled the funds would belong to whoever paid for it?

Incidentally, my holiday last year was paid for (by Dave) pre bankruptcy and as it was a gift I didn't even think of declaring it!

[chris.g]

I would definately go on holiday! Saves risking the OR seeing it as an asset or a windfall, have your pressies like I say, it was meant for you!!!

[sjw]

go on your hols and have a great time x

[MelanieGiles]

The technical answer is that you have an asset here called a "pre-payment" which is an asset of the estate, however given that the amount is relatively small the OR may well turn a blind eye to it, especially given the way it was funded. For your sake, and sanity, I do hope so!

[broke100]

Our holiday was paid for by my family as a gift. They gave us the money and we paid it into our bank account and then booked it online paying with my debit card. This is because when you book online you have to show the card that you paid with at check in.We explained this to the OR and they said as it was paid from my account it is now an assett in the bankruptcy so the money cant be given back to my family. With reference to Melanie's comment, the cost of the tickets was similar to the amount mentioned above and the OR did not turn a blind eye. I recommend if you're given money for a holiday do not pay for it out of your own bank account because if you end up having to cancel you will probably lose the money as we did.

[chris.g]

Broke100, that's terrible! Could you not prove that the money was in lieu of presents, show bank statements etc? I think it shows again, the grey area of the OR's discretion and that it is the luck of the draw if you get a decent sympathetic OR or a harsh job's worth.