using car cash for letting funds??

[MelanieGiles]

Chris

If you are looking for one of us to tell you that it is OK to do this, I am afraid you won't find an expert who will do that on this forum. Dissipation of monies prior to a bankruptcy application is unlikely to be viewed favourably by the OR, but if you feel that you have a justifiable reason that go with what you feel is best.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[chris.g]

Thanks Melanie, I do understand that it doesn't look good and the OR might not approve but I have seen other posts that seem to indicate that when an asset is sold, eg, house, it is sometimes possible to use some of the capital to pay for bonds/deposits and rent. It's all new to us and we are just trying to get through it as best as we can. After all, renting will give us more disposable income as it is cheaper than our mortgage therefore more for the creditors in the long run.

Learning as I go along and getting wiser all the time!!!

[MelanieGiles]

Why not call up your local OR's office and speak to one of the examiners to see if this is acceptable to them?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp