right of action to banks

[carco]

hi, I was declared bankrupt in 2010, for £36,000. The solvency service received £46,000 from two banks paying back the ppi, with the insolvency service charges, I still did not get annulment. Do I have a case of (right of action) towards the banks. Thanks for your help. Regards carco

[BankFodder]

I don't know enough about bankruptcy law to be able to advise you - except to say that your suggestion is very reasonable. On what basis was the misselling? If the banks have caused your bankruptcy by by their deceptive practices then it seems very reasonable that they be made to pay you your losses.

[carco]

Thanks bankfodder, that's the way I look at it.

[filrobbo]

That's just my thoughts as we'll go for it.

[fkofilee]

That's a hell of a PPI payout... !

It makes me wonder if you do have a case against the banks.

[BankFodder]

I would start off by looking very closely at BCOBS

[sequenci]

Hello there.

 

As far as the annulment is concerned, here are your steps:

 

• Get an application notice, which is Form 7.1A, either from The Insolvency Service website at http://www.insolvency.gov.uk or you may be able to get one from the court dealing with your bankruptcy.

 

• Make a statement of truth setting out details of your assets and debts at the date of the bankruptcy order and details of your payments made or how you have secured payment of the debts. You should note that you may not use your personal assets as they now belong to your bankruptcy estate, so you must use third party funds to pay all debts in full. If you have already been discharged from your bankruptcy you can use any money that is yours.

 

• Send or take the form and a statement of truth to the court. The court will then set a date to hear your application, which you should attend.

 

• You must notify the official receiver and the trustee of the date, time and place of the hearing. You should do this at least 28 days before the hearing. You should also send copies of your application form and statement of truth to the official receiver and the trustee.

 

• The official receiver or the trustee will send a report to the court to confirm that your debts have been paid or secured. The report may also comment on your conduct in the bankruptcy.

 

You can find out more about annulment of the order here: http://bis.gov.uk/assets/insolvency/docs/publication-word/cancelled.doc

 

Heres the BCOBS stuff: http://fshandbook.info/FS/html/handbook/BCOBS

 

- Seq.

[carco]

Thanks for your help sequenci, I think I will go direct to the insolvency service, and take it from there.

[Conniff]

Moved to the legal section