Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Personal Insolvency/Bankruptcy Asset Query

  • 01-04-2016 11:30am
    #1
    Lawros Tache
    Registered Users, Registered Users 2 Posts: 321 ✭✭


    Hi All,

    I'm looking for a little clarification/advice if possible. I realise legal advice is not allowed here but if somebody could clarify some matters i'd greatly appreciate it.

    My sister is shortly to enter Personal Insolvancy. At her latest meeting she was told she would qualify to keep her car (for various travel/work distance and family reasons).
    However she knows her assets must be under 6k so has sold her current car (approx 10k) and purchased one for 5k.

    She had previously borrowed 10k from my parents and gave them back the 5k "profit" from the sale of her old car.
    She is now worried about the disposal of assets proclamation and wonders what will become of the 5k?

    Will she be penalised for paying this to our parents? Will she have to pay it back to her creditors? Or will it simply be written off as part of the overall debt?

    Many many thanks for any help.


    LT


Comments

  • #2
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,774 Admin ✭✭✭✭✭hullaballoo


    Moderator: You have asked a question that is impossible to answer without giving legal advice, despite acknowledging that you cannot get legal advice here.

    I don't have any choice but to close this thread. I will say that your sister will need legal advice from a competent professional, though. If I understand what you are saying, that sort of behavior is viewed very dimly.


This discussion has been closed.
Advertisement