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| The independent answer to your debt problems | login join |
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Neiljung
| 25-06-2009 04:26 PM |
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Joined: 25 Jun 2009 Posts: 3 | I am applying for LILA sequestration very soon. Now, an obvious temptation would be to have a wee last minute spend on the credit card cos it's never getting paid back anyway...nothing too extravagant bearing in mind that although I have 30k debt I also have 13k available credit...was thinking just a wee holiday costing say 1k...is this a good idea though and how well would this go down with MBNA and the AiB? I know it's important to keep the AiB onside as they could possibly ask me for a contribution during the 12 months...presumably they deal with dozens of sequestrations a month though so what are the chances of my 1k transaction flagging up...advice pls. |
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unholygirl
| 03-08-2009 06:52 PM |
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Joined: 03 Aug 2009 Posts: 4 | I was recently declared bankrupt and i was informed at the time that had i purposely gotten myself into more debt before going through the bankruptcy proccedings, that it could not only affect my bankruptcy application, but that i could also find myself up on charges for fraud. For the sake of £1k.......is it really worth a possible jail sentence along with a criminal record? |
| paladin | 03-08-2009 07:44 PM |
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Joined: 06 Jun 2007 Posts: 225 My Profile | Why did you borrow £1k before going bankrupt and what did you do with the money? |
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unholygirl
| 04-08-2009 08:43 AM |
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Joined: 03 Aug 2009 Posts: 4 | No he hasn't gotten a loan of 1k. He's saying he has 13k available in credit to him and would a 1k holiday show up before he applied to become bankrupt. Considering that one transaction could nullify your application for bankruptcy and end with you in jail, i'd definitely say its not worth the risk. Bankruptcy is supposed to help you get back on your feet, not a method to obtain "freebies" |
| paladin | 04-08-2009 11:26 AM |
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Joined: 06 Jun 2007 Posts: 225 My Profile | doh, sorry unholygirl I totally misread the thread. I completely back up what you're saying. Neiljung, you'll get into serious trouble if you go on your holiday. Unholy girl is right, it'll land you up in jail! You main aim is get rid of your debt and get back to living within your means and going on a holiday you can't afford is not a good start. Neiljung, each bankruptcy has a professional team behind it headed up by an IP who cannot be seen to be lax or they will lose their £70k+ a year job. Do you still think that they'll let the £1k pass? Good luck with your bankruptcy and keep in touch and let us know how you are coping. P |
