Hello, Please can you advise me on the following - declared joint voluntary bankruptcy Aug 2011 / only IPA that has been set is on PAYE TAX until April... Our house was deemed to be in negative equity by the OR, and we are awaiting it to be repossed by the lender as vacant possession taking with it the second and third charge.. We were notified yesterday that we have been passed from OR to RTLU yesterday.. so to get to the point ...if we have nothing to take is it likely that we will be released early and if so how long does the process now with RTLU normally take..? will they wait until the house sells even if it's seen to be in negative equity once the fees have been settled, we appreciate your advice. Regards
They will deal with it in their own time so it may be that you just do the normal 12 months. If the house doesn't sell within the 12 months you are bankrupt, your bankruptcy won't be extended.
Hello, Please can you advise ?
Posted - 23 February 2012 : 15:18:13
