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Spending back dated benefits before going bankrupt?


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Hi, I have just received almost two years’ worth of backdated benefits during my DRO, so the official receiver cancelled it, but he said that I could keep £700 for bankruptcy.

 

 

I received this money due to my medical condition and I have started buying white goods to replace items including a 28-year-old leaking washing machine. I also intend to buy a fridge freezer and a cooker as my current fridge is 28 years old and my cooker was a hand me down. These items will be my biggest expenditure.

 

 

I was wondering what Items I can buy? bearing in mind that I will most certainly be going bankrupt, so I have decided against replacing my 10-year-old TV, just in case the OC would take a new one. For instance, could I buy a new hoover or a new hard drive for my 6-year-old laptop without worrying about the official receiver taking them to sell?

 

 

Here is what I have bought so far, a new washing machine and proof that the old one was recycled. New bedding, a duvet, bathroom towels, tea towels. an ironing board. I have also been taking photos of some of the broken and worn items that are being replaced.

 

 

I also intend to pay my rent arrears, buy a microwave and some new clothes, pans, a new bedroom carpet, curtains etc. Basically, things that I have needed for years but have not been able to buy because I've been on the lowest rate of Universal Credit.

I intend to keep about £2478 to offer my creditors 18% of what I owe as a full and final settlement. I will also be keeping £700 in case they do not accept and I have no option but to go bankrupt.

 

 

So, I suppose what I'm asking is does this sound okay? in that I am spending just under 50% of my own money on items that I needed for the house, and myself for quite a few years?

 

 

Also, should my creditors refuse my offer could I then go on to buy some more household good such as an air fryer since I will be going bankrupt anyway? I am asking these questions because I do not want the OR to give me a bankruptcy restrictions order. But it’s not like I am buying things that I do not really need.

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If youre going bankrupt, why offer anything as a F&F? Throw them into the bankruptcy and be done with it. Who are your creditors.

 

If your debts are still with the original creditors. They might moan a bit, but they will prob just shrug and write it off.

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My debts are still with the original creditors, and yes I could do what you suggest because thanks to my DRO being cancelled my credit file is screwed anyhow. My debt is with Barclaycard, Nationwide and Capital One and all are credit card debt.

 

 

 

But I would still like to know how the official reciever would look upon me spending my money on the things that I have listed in my post above. And I would also like to know how much spending on essentials, white goods, house hold essentials, clothes such as a pair of trainers, a couple of pairs of pants and two t shirts and maybe a new coat, paying back rent ect would be seen as reasonable versus going over the top?

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