Tawnyowl -slow acceleration to bankruptcy

[Tawnyowl]

Thankyou for telling me about your experiance of your bankruptcy.I hope mine goes as smoothly.Hope you are enjoying your new life in Canada.Must have been a big decision to make.As for the weight lifting of my shoulders.It is lifting-but after the years of fighting debts charging orders ccjs banks doorstep collectors its taking some getting used to.And the pysical and deppressions it gives you-well i lost three stone in weight developed tinnitus-coincidence perhaps.Ill go as far as saying debt is a possible killer.As the paperwork develops i will feel better-takes some getting used to and accepting the nightmare may be over.Tawnyowl.

[Tawnyowl]

Have decided to keep posting about things that happen shortly after bankruptcy as maybe someone might like to know.Well its 2 days after bankruptcy and im waiting for my bankruptcy pack from the OR.I came home and there were 2 letters one for me one for my wife.Mmm i thought this must be from the OR.No it wasnt it was from a firm called the Bankruptcy protection fund ltd.Just in case you want to know about them there you go Bankruptcy Protection Fund | Leading Annulment Service What do i want anything to do with this.Heres my first thought-incidently the Bankruptcy register is not supposed to be used for the soliciting of services which is a direct abuse of Public Information).Where else could they have got this info.Now anyone who has read my repossession thread-remember Kensington and other subprimers who set up their own brokers- TML etc-although saying they searched the market for the best deal they allready knew who you would end up with.Heres someones experience of the protection fund.

The way they operate is this:-

They pay off your Bankruptcy debt.In order for them to recoup their money,they arrange,through Consolidated Finance/Alpha Mortgages,a re-mortgage of your property.

In my case,they were not able to come up with re mortgage.Whilst they are trying,you are being charged interest by way of a bridging loan at an extortionate rate.This wasnt explained in the beginning.

To date,they have still not provided any finance and the interest goes on.Obviously,the longer they hold back,the more money they can squeeze out of you.They also slap a charge on your property and ultimately seek a posession order,which is what has happened to me.

 

I now have Trading Standards,Citizens Advice and a Solicitor who are investigating and I am told that I have a pretty good case against this company in as much as they misled me,did not provide the finance as promised in writing,cold called on me as a first contact and also should have conformed with the FSA rulings.

This is a bit disturbing-and im trying to understand why after going bankrupt these firms obviously are going after the possible equity in houses-no win-no fee maybe but charges i bet there are sounds like you will end up even deeper in the xxxx.Tawnyowl.

[Tawnyowl]

Latest is-received bankruptcy pack and telephone interrview with OR next week.Also call from OR asking wife about the ltd company i was MD of.Sounds good but it prob is the smallest company ever.I resigned last year realising i prob was going to go bankrupt.I believe you cant have any control while bankrupt.My son is running it now as the only director.But like i say i am a employee now for what its worth.Prob just above benefit level.Not much work about but better than JSA-but have thought about it a few tiimes in these difficult times.Slightly worrying the ORs interest but nothing to hide.

[Tawnyowl]

Wife went to Abbey about the bank account with them asking if the account would be closed taking the Bankruptcy Order with her.They said yes it is ok and will be kept open.They said the worst thing that may happen is you may receive a new card moving you to the most basic account.That is fine.

[Tawnyowl]

Anybody who is going bankrupt and having trouble remembering when loans etc were taken out.I had forgotton many of them due to mostly only having DCA letters etc.I found a free credit check site-no bank or credit card details required filled it in-1minute and bingo-all there dates taken out payments made and default dates.Handy when correcting petition at interview.Anyone that wants it i will PM it to you.Tawnyowl

[Tawnyowl]

Latest-on Bankruptcy.Had my interview with official receiver .The interview was gentle but probing.What did you spend this on what did you spend that on kind of thing.All answered debts-mortgage-house improvements that kind of thing.Didnt mention the world cruise-only joking.Any advice i can give give any of you facing this situation-i think there is.1-Dont worry to much about the interview they are a friendly bunch.2-Do have the correct dates of the date you took the loans out they really want this.3-Think what you spent it on-4-Dates you started getting into difficultys-year.You can get these dates on your credit report.I know of one you dont need credit card details etc-if you want it i will PM it you.The other thing i would say is council tax -the rules have changed recently,even they werent to sure about this-something about liability orders.I will post this info later.I immediatly when coming out phoned the tax office later mine are included.Well everyone knows my dislike of Kensington Mortgages and as they repossessed me and sold the house there was a shortfall.They didnt let me know they had sold it or the shortfall-but sneaked it in my credit report.Remember they can chase this for 12 years so prob would wait several years before ressurecting it.And dont forget some of you by then maybe in new relationships new houses etc.Imagine that landing on your mat-your house-could cost you your house.And a few arguments.They will find you they have special teams.Sneaky little devils.Be careful.I will do everything possible to put the Kensingtons of the world where they belong-in hell or the Bankruptcy court.Tawnyowl.

[Tawnyowl]

Or back to their 80 billion pound worlwide empire owners Investec-in South Africa with their tail between their legs.Want to speak to me Kensington.Anytime.

[Tawnyowl]

Remember this saying-Speculators have wrecked the world economies-you are part of it.Tawnyowl

Having a cup of tea-overheating

[Tawnyowl]

Well am still boiling-i know Kensington spies prob come on here sometimes so really the workers -you are just doing your job and probably only just hanging on to them.Your bosses in Skipton and Britain are probably just doing their jobs-so as i am so worried about things re subprime i am going to get in touch with Investec and ask some well structured but hard brutal questions.I have been studying them nearly three years.And am sick of it.I will report back next week.Tawnyowl.

[Dodgy Geezer]

Latest-on Bankruptcy.Had my interview with official receiver .The interview was gentle but probing.What did you spend this on what did you spend that on kind of thing.All answered debts-mortgage-house improvements that kind of thing.Didnt mention the world cruise-only joking.Any advice i can give give any of you facing this situation-i think there is.1-Dont worry to much about the interview they are a friendly bunch.2-Do have the correct dates of the date you took the loans out they really want this.3-Think what you spent it on-4-Dates you started getting into difficultys-year.You can get these dates on your credit report.I know of one you dont need credit card details etc-if you want it i will PM it you.The other thing i would say is council tax -the rules have changed recently,even they werent to sure about this-something about liability orders.I will post this info later.I immediatly when coming out phoned the tax office later mine are included.Well everyone knows my dislike of Kensington Mortgages and as they repossessed me and sold the house there was a shortfall.They didnt let me know they had sold it or the shortfall-but sneaked it in my credit report.Remember they can chase this for 12 years so prob would wait several years before ressurecting it.And dont forget some of you by then maybe in new relationships new houses etc.Imagine that landing on your mat-your house-could cost you your house.And a few arguments.They will find you they have special teams.Sneaky little devils.Be careful.I will do everything possible to put the Kensingtons of the world where they belong-in hell or the Bankruptcy court.Tawnyowl.

 

Tawny cocker. Im worried.

 

 

BANKRUPTCY

 

Bankruptcy, in law, is defined as the settlement of the liabilities of a person or organization that wholly or partially is unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most instances, to discharge the debtor from further liability.

Bankruptcy proceedings may be voluntary (instituted by the debtor) or involuntary (instituted by creditors). The debtor may be insolvent that is unable to pay all debts even if the full value of all assets were realized—or may become insolvent when current obligations mature. Bankruptcy is also permitted when the discharge of debts would otherwise be unduly delayed,for example , if the debtor has fraudulently transferred property to put it out of a creditor's reach. When a person or corporation has declared or been adjudged bankrupt, preferred creditors (e.g., unpaid employees,) are paid in full, and the other creditors share the proceeds of remaining assets.

 

 

 

Did you include the mortgage as part of your BR ( Creditor ) ?

It dosent matter what they do while you are BR. They cant touch you. Sneaky devils or not.

If the Mortgage was part of the BR, once the Official Receiver has made a decision on what the final dividend is,

THERE ARE NO MORE DEBTS.

[Tawnyowl]

Thankyou so much for your reply on this thread dodgy geezer i did include the shortfall on the bankruptcy petition in about 6 different places just to get my message across-and having waited or couldnt afford to go bankrupt till May after the house got possessed in november the shortfall thank god is unsecured and so included.Iam not doing this fight for me anymore.I am doing it for the decent hard working targeted people who are stuck in their sub prime fixed rate mortgage about to end and dreading the next months increase knowing no one else will take them on that kind of thing.I have many ideas about their situation including a big one.My time has gone but the feelings for others in this situation is hurting me and am going to do something about it.My mind has finally cleared after maybe12 years of debt on and off and the ideas and energy thats come back is going to be channeled in this direction.I wont give up till some recompense is offered to people.Regards and best wishes Tawnyowl.Just in case you are bored sometime and perhaps need something to put you to sleep maybe have a read of this. http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/127712-mortgage-arrears-kensington-nervous.html

[Dodgy Geezer]

I was concerned that you thought you will be liable for the debts still.

 

That is NOT the case. The insolvency service will decide who gets what, if anything, and when, if at all.

 

Bankruptcy can be a godsend for some. It eventually discharges you from any debt that you cannot pay, now, or in the future.

[Tawnyowl]

The post 86-some of you may be thinking-mmm he talks the talk but can he walk the walk-we will see-its a time thing.

[Tawnyowl]

Thanks again Dodgy geezer for your concern and thoughtful post.Tawnyowl.

[Tawnyowl]

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[Tawnyowl]

Now why did i put that on because anyone who is going bankrupt or in difficultys please dont feel bad-youve tried-i commend you.There is one other reason-i want someone to realise that no matter how much you think you understand things and must admit i admire you-sometimes someone knows things possibly that maybe you maynot.mmm-Ill name the name that may open your great mind even farther.

[Tawnyowl]

Henry ford

[Tawnyowl]

In 1899 the young mechanic and engineer started the Detroit Automobile Company with the backing of three prominent politicians. Ford hadn't quite mastered the innovation and production techniques that would eventually make him rich, though. Over the next two years, Ford proved to be too much of a perfectionist, and his plant only produced 20 cars as he painstakingly tinkered with designs.

The enterprise went bankrupt in 1901 and reorganized into the Henry Ford Company later that year. Ford eventually left that group and finally got things right in 1903, when he founded the Ford Motor Company. Things didn't go so badly for the Henry Ford Company after he left, either; it changed its name into one you might find a bit more recognizable: the Cadillac Automobile Company. That perfection thing-costs-Detroit-mmm .

[Dodgy Geezer]

I dont think i will start up the " Dodgy Company ".

 

I dont think it would work somehow.

[Tawnyowl]

Hello Dodgy Geeezer-I read your above post many times since you posted and something didnt make me post back but think for a while.- .It was the way you said the dodgy company,the idea was there for moment,i feel in your mind.Followed by the self doubt it wouldnt work.So i feel youve been through it.What im trying to say is this the country is full of people who have tried have ideas-failed but kept going and tried again even after repos and bankruptcys etc.Its in us we cant help it.Please excuse me if im wrong about you.So your post led to other thoughts about things.We know banks wont help us set up ideas-funding, myself anyway so -i dont know what age groups come on here but perhaps Dodgy Geezer that strange post you made that made me think may help others.What i would like people to do who come on here is theyve got sons, daughters ,wives husbands the list goes on.Who may have ideas-business etc to read or pass on these links i am about to make.Let self employed people or others break this bank-subprime caused reccession.Good luck Tawnyowl. Business Venture Group Limited I-hope you have this kind of help in your area. And for youngsters.Home

[Tawnyowl]

Recession to hit poorest youngsters - Yahoo! News UK You see its this kind of thing thats hurting.

[sequenci]

 

 

Did you include the mortgage as part of your BR ( Creditor ) ?

It dosent matter what they do while you are BR. They cant touch you. Sneaky devils or not.

If the Mortgage was part of the BR, once the Official Receiver has made a decision on what the final dividend is,

THERE ARE NO MORE DEBTS.

 

This is nearly correct. The mortgage lender might try and get you to sign something called a 'Deed of acknowledgement' which states you are liable for the debt post-bankruptcy. Whatever you do please do not sign ANYTHING, this way the debt will indeed 'prove' within the bankruptcy.

 

Best wishes,

 

Seq

[Tawnyowl]

I have decided to stop my battle against subprime lenders.Reason being ive been struggling now for years gone bankrupt -been repossessed and my small company dissolved and really havent the resources to take them on.Also i believe a few of you may win some cases against them but the problem is so vast not only here but most of Europe America prob even South Africa soon.The way some people are living in America due to the subprimers and banks is heartbreaking.Tents are appearing in fields by suburbs of Detroit and many other cities.A proud man even stakes four metal poles perhaps 20 metres apart in front of his tent then forming a square then tapes around them forming his new garden.And many more thousand upon thousand of similar stories.All races and creeds targeted by the greed of subprime-banks etc.Fixed rate ends-you just then have to pay rates so high what chance-to them again it goes -no one else will take us on.We were the targeted ones.Prob millions of people worldwide.I could write for hours of my travels round the world looking -tracking people, companies, share dealings new companies forming-offshoots of those ,leading to the final product-and you.But the final product when you really start looking closely leads allways to the same conclusion i believe thousand upon thousands of people were missold mortgages.To make the whole justifiable conclusion right again-could bring banks down and possibly bankrupt them.I know the lives of these men and how they live-i dont know how they can after what they have caused but do.I am not going to go on for hours but could i just give you a example.My journey began far away from these shores over 2-3 years ago. 2007.No names will be mentioned.Imagine this.1-A boardroom battle takes place maybe maybe not.2-Shortly afterwards a banker dumps his shares in a bank he started along with others.Giving reasons like which would have been accepted at the time-i want to do more fishing-slightly altered but along those lines.He was youngish.3-Shortly afterwards they buy a group in this country who then suddenly form offshoots a broker a mortgage arm- and themselves, Packager all the other things that go with it.We fall into their web-broker searches market as advertised-noooooo they put you into arms of other mortgage comp they own then back to themselves next day avoiding offers available at time.Trouble starts-re subprime crisis .Other mortgage company vanishes along with broker leaving main company still there to collect payments-fees councillor fees -end of fixed rate increases-every flaming fee imadginable.All are similar if you look closely.If you want more i will tell you more-if you think im daft-fair enough- but you must excuse me now ive been working on a roof fifty foot up-where the slates were hot enough to fry a egg-and some of you probably think my brain,also im typing on a bust computer with a on screen notepad with only one key.Take care Tawnyowl

[Tawnyowl]

Well i said i would tell you about things that happen after bankruptcy so heres the latest.The official receiver has allready received all debt details from the companys involved and income tax details.Letter of confirmation received.Now thats fast.About 10 days.

[**Tilly**]

Hiya Tawny

 

Still got me beady eye on your thread looks like things are going to plan, hope the stress has gawn or at least starting to

 

 

 

 

 

 

Tilly