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thescottishone
Junior Member
171 Posts |
 Posted - 29 June 2008 : 09:04:44
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I am currently Bankrupt. I havent kept up with my payments to the OR and now they wish to sell my property, I have a 8 month pregnant wife and a 3 year old son. I am able to re-commence payments, can i prevent the sale of house? can someone negociate with the OR for me?
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debtfreesusie67
Junior Member
256 Posts |
Posted - 29 June 2008 : 13:00:20
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Hi thescottishone welcome to the forum I'm not able t answer your question I'm sorry but an expert will be along shortly
Hugs
Sue
The only way is up
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melanie_giles
Senior Member
1191 Posts |
Posted - 30 June 2008 : 00:28:24
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You could appoint someone to negotiate with the OR on your behalf, but if you have a property with equity in it, then this vests in the Trustee and it will have to be realised for the benefit of your creditors. Best to look at ways you can raise the money, or look into whether friends or family could help.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 30 June 2008 : 09:03:58
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Hi thescottishone
The payments you make to the OR are a separate issue to your home, as payments to the OR are based on an income payments agreement from your surplus.
You need to find out how much equity is in your property as you will need to find someone to buy out your beneficial interest if you want to stay.
You could get someone to negotiate this for you, but it is something you could do yourself.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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thescottishone
Junior Member
171 Posts |
Posted - 30 June 2008 : 09:42:25
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| I currently have no or very little equity in the property, it is currently undergoing a refurb and needs a complete re-wire before being sellable....the reason i wish to appoint someone is that i work abraod and spend little time in the UK. Who can i appoint and how? |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 30 June 2008 : 12:47:02
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Is your wife not able to deal with this for you, or do you have a family member who you could trust to give them power of attorney and deal with this on your behalf.
Has the OR actually taken any steps in realising the property or have they passed it to a Trustee to be dealt with?
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 30 June 2008 : 15:33:09
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Hi Thescottishone and welcome to the forum.
Indeed, many firms would be more than happy to do this for you, but for a fee. Given your situation, you should be able to do this yourself without any trouble. Just remember, the OR is humnan too and will listen. If you're not happy with what they have to say, you can take it up with the Assistant OR (you will be dealing with an examiner, NOT the OR himself).
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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can someone negociate with the OR for me?
