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T O P I C R E V I E W
Sunshine_Girl
Posted - 18 January 2009 : 11:20:15 Hi
I've just received a letter from my OR which is so full of legalistic jargon as to be incomprehensible and I wondered whether someone could explain it to me in layman's terms.
It is a notice that my home “falls under Section 283A of the Insolvency Act 1986”.
What does this mean?
I recently had my home valued as requested by the OR and the valuation confirms that I am in negative equity. I am hoping that this letter is confirmation that my home will now not be repossessed, as promised by the OR should I be able to provide such confirmation.
Thanks for your help
RD
2 L A T E S T R E P L I E S (Newest First)
Sunshine_Girl
Posted - 18 January 2009 : 15:04:20 Thanks, John.
John
Posted - 18 January 2009 : 14:57:10 Hi
section 283A is purely the OR notifying you that he has a maximum of 3 years from the date of bankruptcy to deal with the property.
It has nothing to do with any decision or opinion he may have. Purely mandatory notification and nothing to worry about.
