UK Bankruptcy Law
UK Bankruptcy Law Questions Answered by Verified Experts
It was a loan to pay towards for the solicitors divorce fee, otherwise they were going to stop acting for him. This was to be repaid on completion of the divorce, which it was.
So they are now stating they can go back over a period of 2 years prior to the bankruptcy loan.
Also not taking into account that if I did not pay the solicitors this amount, there would not be any money for them to try to reclaim. As well as the fact that this is my savings and I have benefited nothing from the whole episode.
I look forward to your reply.
13th December 2011
In terms of the circumstance required:
1) He was trying to make repayments, they made him bankrupt (I do not know much about Bankruptcy but he told me this and apparently that is a difference)
2) What's the definition of preferential? If at the time he is paying them a small amount and then pays me off completely, is that preferential?
What are my opinions and what can they do considering the fact that I spent the money last year?