All Forums  archive  Forum Questions  I am bankrupt as of 15 July 09.

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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 jamesram[/i] [br]I am bankrupt as of 15 July 09. A sale of my freehold business is going through an LPA 1925 Receiver. The sale price is about £180K. I owe £250K to ther bank, allsecured under morgage of the property. 2 questions, please: The bank has already demanded deatails of how I will repay the shortfall ( they don't yet know Iam bankrupt) Will I have to pay the shortfall even though I am bankrupt, ie will I still have to deal with thousans of pounds of debt on discahrge in 12 months time? 2. Is my recent bankrupcy likely to interfere with completion of the sale, do you think. Contracts are due to be both exhanged and completed simultaneouly in the next few days. I have informed the OR by telephone but not the buyer or the estate agent yet. I see the OR for the formal interview next week. Thanks for your help. James [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.