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Julian.33
Starting Member
3 Posts |
 Posted - 14 October 2010 : 12:54:31
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| Hi, if i was declared bankrupt, would the court be able to find property in my name where i didnt live? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 14 October 2010 : 13:35:03
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Possibly from the Land Registry.
I would highly recommend that you are 100% honest with the OR and put down all details of any assets, including property, that you have.
In the worst case scenario if the OR discovered you weren't 100% honest you could be considered guilty of fraud and end up in front of a Judge.
Bankruptcy is a chance to start your financial life over. Don't try and make things worse that they presumably are now by getting into more trouble with the courts because you don't want to declare all of your assets. |
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RHB
Senior Member
1159 Posts |
Posted - 14 October 2010 : 13:35:22
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| Probably. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 October 2010 : 14:58:40
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I agree with Gettingoutofdebt. It really isn't worth making things worse by hiding anything from the OR. When they find out, they will go through everything with a fine toothed comb, which won't be pleasant, and you could end up the a BRU/O.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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debtinfo
forum expert
2826 Posts |
Posted - 14 October 2010 : 21:15:10
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worse than that tracey, lying to the OR and court is one of a few things in bankruptcy that can in certain circumstances result in prison.
to the OP, yes the OR has full access to the land registry and can ask for a search of the records, one of the very first things the OR does is to send a notice to the land charges department to obtain a WOB (writ order) number, Land charges automatically put a notice of the bankruptcy against any property that matches your details |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 15 October 2010 : 00:38:06
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The OR will ask the Land Registry to conduct what is known as a "proprietor index search", which will show what properties you own,any where.
Additionally, creditors, or people you've had contact with over the years who know what properties you have, have a habit of informing the OR what properties you have, once they know you're bankrupt, so it's best to be up front on your SOA.
None disclosure of assets, is one of the areas of misconduct that will result in a BRO(bankruptcy restriction order), i.e. the restrictions placed on you in bankruptcy could be anywhere between 2 and 15 years instead on 1!.
Big Al |
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Julian.33
Starting Member
3 Posts |
Posted - 15 October 2010 : 11:51:32
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| thanks for the advice and it rules out going bankrupt for me. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 15 October 2010 : 13:39:28
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Hi Julian,
I suggest you contact one of the experts to chat through your options regarding your debt.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Julian.33
Starting Member
3 Posts |
Posted - 18 October 2010 : 13:51:32
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ok thanks but i'm a long way from bankruptcy at the moment, just very stretched with mortgages on rental properties
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 18 October 2010 : 23:58:39
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Do you have any mortgages with Golden Tree?
Big Al |
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would court be able to find property
