All Forums  archive  Forum Questions  Does family member have a case to annul bankruptcy ?

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by rcb123[/i] [br]hi a family member of mine has been made bankrupt by lowell portfolio, from a debt that took place in 1995, i believe the sum she was made bankrupt for was around £800. unfortunatley she buried her head in the sand and didnt realise what the implications would be. after visiting the OR yesterday they have told her that as she has equity of around £90k in her property she will needto find the sum of £9k or she will lose her house. she was also told that she would incur around £10k in legal fees and costs so she would have to pay back around £20k!!! some of her creditors do not wish to lodge proof of debt and are happy to take reduced payments as they have been doing for some time. she was also lead to belive that any equity left over would not go to her, which i think is inaccurate. whilst i do not condone not baying creditors i do think that making someone bankrupt for such a historic and small debt is so scandalous. does she have a good case to annul the bankrupcy? [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.