Advice about Bankruptcy

[rippedoff15]

After i was confirmed BR i did feel very bad not sure why, but after speaking to the OR during the telephone interview iam much better they were great and confirmed even with debts over £150k i would be discharged in 12 mths, and they would no need for more details from my creditors, i even had 2 personal guarantees totalling over £570k and they are included as well. The OR was very helpfull and did not judge me at all, they did say it part of life !! . Life is far better now and looking forward to a better year

 

Many Thanks for all the help

 

cheers

[rippedoff15]

Hi All,

 

I was confirmed BR on 23rd Feb this year and have legal charges over the house which is on the market and not sold as yet, tennants renting it at present and looking to purchase the house. I under stand the charges will transfer to unsecurd loans and are included in my BR so this means they will be written off, i have got a 3rd unsecured loan which they are trying to place a charge on 17th Apr 09 i have called the solicitor dealing with the paperwork informing them i have been made BR on 23rd Feb and so far they have not confirmed if they have stopped the charging order.

 

Should i now write to the solicitor coping the BR order and ask them to confirm no charge will take place, and then copy all paperwork to the OR, i did call the OR regarding the matter who told me to forget the order as it cannot take place as the debt is included in my BR, but i have not been inform about the out come yet, so not sure what action i need to do

 

 

any feedback would be great

 

 

cheers

[tonycee]

Havent you worried enough ??????

 

If the OR says

told me to forget the order as it cannot take place as the debt is included in my BR

then chill out.

 

They work at their own pace. Let them get on with it. You get on with yours.

 

Enjoy.

[rippedoff15]

Cheers TC

 

Still forgetting iam BR lol, having glass wine or 2 tonight

 

cheers again

[rippedoff15]

Hi All,

 

We are currently renting a house via a local letting company ( national outlet ) and due to an illness my business closed forcing me into BR which was confirmed in Feb 09, the letting agent is aware that iam currently BR and we feel that they will issue the s.21 giving 2 mths notice because iam now BR, we have paid at on time and infact before its due but if they issue the notice there is northing we can do just accept it which is unfair. or are the letting agent breaking the law due treating a BR differently with unfair conditions ?????

 

But we will have to find another house but will letting agents refuse to let due to my BR, and if that is the only issue can they demand full 6 mths rent, which we feel is treating us with differently to someone else. is against human rights ?????

 

cheers :x:x

[Guest Old_andrew2018]

Bump

[Last of the Mohicans]

Hi All,

 

We are currently renting a house via a local letting company ( national outlet ) and due to an illness my business closed forcing me into BR which was confirmed in Feb 09, the letting agent is aware that iam currently BR and we feel that they will issue the s.21 giving 2 mths notice because iam now BR, we have paid at on time and infact before its due but if they issue the notice there is northing we can do just accept it which is unfair. or are the letting agent breaking the law due treating a BR differently with unfair conditions ?????

 

But we will have to find another house but will letting agents refuse to let due to my BR, and if that is the only issue can they demand full 6 mths rent, which we feel is treating us with differently to someone else. is against human rights ?????

 

cheers :x:x

 

 

It doesnt actually follow that they'll want you out, does it? Put yourselves in their position: you're a good payer. Unless you're wrecking the place, they have (I'm sure) plenty of financially delinquent tenants to sort out before they get to you.

 

Not trying to belittle your fears, but do you have any grounds to be worried about this? Are there terms in your TA that state "No Bankrupts, at all."

Do they even know you're bankrupt? If not, why not let sleeping dogs lie, and continue being a good customer until such time as they contact you?

[rippedoff15]

Hi All,

 

Now my BR has been confirm this Feb iam looking forward as i need to live lol , Iam looking to start a new business by opening a shop but as iam BR the new shop name / company will be in my wifes name as she is not BR

 

I will be empolyed at the shop as the manager, we have chechked the name at company house which is clear to use and with the VAT, should i inform my OR that we are planning to open a shop or say northing as it is my wifes name, also when opening new credit accounts will my BR stop this due to our address ?

 

1, Address issue due my BR.

2, Letting a shop what issues as iam BR

3, VAT ??????????

4, Opening Credit accounts but again issues with address.

5, New Company bank account

 

 

but due to my BR will this stop use from starting a new busines

 

Cheers for feedback

[palomino]

If your wife is starting a new business then it is of no concern to the OR - she isn't the one that's bankrupt.

Similarly I would have thought the OR would be delighted that you are getting a job as you will be earning some money, part of which can be used to repay your debts.

 

There shouldn't be issues with the address as it is the person that is bankrupt not the address. In practice though your name may well appear when would-be creditors check out your wife's credit rating. Not sure if there's much she can do about this.

[rippedoff15]

Hi All

 

I was confirmed BR on 23rd Feb this year and completed the telephone interview 2 weeks later, so far i have not had any reply from the OR, but today my father who is a creditor had a letter stating that their are no funds and listed my details such as house value and all creditors totals etc

 

i have called my mortgage lender and now trying to include the shortfall in the br which is 15K but so far they have not confirmed the request

 

Should the OR send myself a copy of this letter or should i forget the BR, as iam now trying to find work and start again

 

 

cheers

[palomino]

As a general principle do it all through the OR.

 

Presumably you still have your house (it's not clear in your post). If so then the mortgage will be secured on the house and will therefore not be included in the bankruptcy - the bankruptcy only covers unsecured debts.

And that means debts that were unsecured at the time the bankruptcy was declared.

Your mortgage was secured at that time so is not included. You have no equity in the property if the value now is less than the mortgage so the OR will not be interested as it isn't an asset (in fact it is a liability).

[rippedoff15]

Hi All,

 

I have to buy a used car as iam looking for work and need a car to get to work, i will be paying cash or credit and the car will be less than £500 just a cheap run around, do i have to inform the OR that i will be the owner of the car ???

 

Cheers

[loobyloo85]

If you have not yet been discharged from bankruptcy, you would need to declare any purchases and assets to your official receiver. it would be unlikely for them to ask for this new vehicle as part of your bankruptcy, as any vehicle under £2000, they allow you to keep.

[boston3603]

You'll be ok. I am going on to teacher training in september.i have had to cut down slightly to pay for this and my OR is fine. I had to sell my old car before it died for 350.00 and bought a new secondhand car with extra money from a boot sale for 500.00 so i can get to college. my OR is only interested in assets which take me over my reasonable monthly expenditure.

Good luck.

Hazel

[rightsaidmags]

My son purchased a car from a dealer and he was ripped off of £2090 cash paid by debit card, car lost power after about 6 weeks and had to be road assisted by AA car brought to garage and was discovered that engine was write off, garage man said that the car engine had substantial wear and tear over a long period.

 

Went back to dealer and asked for refund and he laughed me out of the office.I have told him I am going down legal route to sort this matter out and that I was going to report his set up.

 

I have sent letter by recorded delivery but so far it has not been delivered so is not accepting my letter.

 

On top of that the Cover Warrenty was not registered with the warranty company so I could not get help there, however, this was only for £500 useless when the engine needs to be replaced!!

 

Consumer advice says to write 3 letters quoting the Consumer Rights act of 1979 and he must remedy in one of 3 ways, I set up this letter and am about to send it off, but what happens if these letters are not been accepted or shown not delivered?

 

the car was supposed to be 2003 model with 77,000 miles registered. I would like your thoughts on this, would a car engine have such wear and tear at this stage.

 

Also I am getting a full garage report and then if I do not receive any remedies from the dealer a trip to the small claims court will be the order of the day.

 

Also when we were at the bus stop after visiting the garage, a car pulled up oppisite us and this guy kept staring at us in a very obvious manner, he got out of his car and continued to stare at us and then opened the boot still staring at us, I thought this might be a threat of sorts, but I try not to let my imagination run away with me, but I wouild not dismiss it.

 

have you any words of wisdom or advice to offer in my case or is there anything else I can do to get remedies.

 

thank you for your help

Edited June 3, 2009 by rightsaidmags

[rippedoff15]

Hi All,

 

I was confirmed BR on 23rd Feb 09 and every thing is great the OR has ben very helpfull and the creditors have not chased me at all, i have been told by the OR they will be issuing me an early discharge within the next 2 months making my BR only 6 mths is this nornal an d do i have to confirm anything to the court such as costs etc

 

cheers :):)

[Dodgy Geezer]

Early Discharge.?????

[rippedoff15]

Hi All,

 

I have been BR since 23rd feb 2009 and everything has gone well, today myself & my wife were sent a payment regarding our Tax credit which was sent in error to the Halifax by the Tax Office.

 

The bank account was included within my BR and was overdrawn by £1563.00 appox, the Tax credit sent was for £1387.75 to the account and the halifax have now kept the money and told use to get loss, i have informed the OR regarding the matter as i have to declare the money to them, they have confirmed that the full amount tax credit has to be sent to the OR so they can do the folowing:

 

1, Re-issue some of the funds back to otherselfs as it is needed for household outgoing.

 

2, Some of the funds will be sent to our creditors which the OR will be arranging.

 

The main question is how do we get the Halifax to refund the funds back to the Tax Credit office and resend the amount to the OR who will be sorting out the funds as who gets paid.

 

cheers :mad:

[joemay]

Hi rippedoff,

 

I am no expert, but surely your OR should be contacting the Halifax to get the funds transfered to him. The Halifax are in no position to take funds which should be managed by the OR, it seems to me that Halifax could be breaching some kind of regulations.

 

You should speak again to your OR and inform him/her that Halifax will not release the funds on your say so.

[rippedoff15]

Hi All,

 

I was confirmed BR in FEB 09 which has gone well now ( no more sleepless nights ), the OR has wrote to me asking for income etc so they can consider an early discharge, after the discharge has been confirmed can any of the creditors chase me again.

 

As our house is in joint names with on funds in it the OR was not interested in it but their is a shortfall after it has been sold, will this mean i have to be made BR again ?????????

 

Cheers

[toddle2u]

Speak to the OR and ask hom if the shortfall has been included in the BR.

 

I take it the house has already been sold? If so your parter will also be responsible for the shortfall and the mortgage company will come after them

[rippedoff15]

Hi, no the house has not sold as yet, it has dropped value £50k so far, but iam worried that after the discharge the lender can then chase me again,

[toddle2u]

Yes after discharge if there is a shortfall on the house they can chase you for it

[loobyloo85]

It would be worth informing your OR about your concerns with the property and hear their suggestions.

They may be able to extend the bankruptcy to include this, or you may have to try again. x

[debtinfo]

They cannot chase you for this debt, they can chase the joint owner unless were bankrupt as well, not sure if this is what toddle2u was getting at, but they cannot chase the bankrupt person