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Frank _R
Starting Member
2 Posts |
 Posted - 17 November 2008 : 11:19:01
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| I will be going BR in January at some point; I have sold my house and leave it in two weeks time, I will be using a c/o address from then on as I am going to be touring around in a touring caravan. The question is, which court? The one near my ex-house address, the one near my c/o address or any court it doesn't really matter? I have re-asked this as I wasn't logged in, so if it happens twice, apologies. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 November 2008 : 12:40:25
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Hi Frank
You will need to petition where you spend the majority of the last 6 months. SO if you leave on December 1st you would need to petition at that court up until March 1st 2009.
Is the touring caravan yours and if so what value does it have as this may well come into the bankruptcy estate.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK
www.revivauk.com |
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Frank
Starting Member
18 Posts |
Posted - 17 November 2008 : 17:33:01
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The caravan and van that pull it are joint possessions with my wife (she is not going BR). We have been advised by an IP that they won't touch it as it will be our only place of residence and the van is an intregal part of the package - i.e no van to pull it and only allowed to stay two weeks on a site so it must be movable.
Thanks for the court answer
Here we go again... |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 November 2008 : 17:45:43
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What value is the van / caravan.
just worried that if it is too great then the OR may well be interested.
Costs nothing to check prior , but afterwards is too late.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK
www.revivauk.com |
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Frank
Starting Member
18 Posts |
Posted - 17 November 2008 : 23:10:44
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We own them outright, caravan I'd estimate at £4.5k max and van £3250. Certainly as far as I can see if it was a house they certainly couldn't touch it for a year anyway and as this caravan will also my wifes only place of residence I may be wrong but I think the OR would have a problem with my wifes solicitor if he tried to take it on the spot as she owns half of both the caravan and van. Maybe I'm wrong, what are your thoughts on the matter?
Here we go again... |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 November 2008 : 23:41:13
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interested to see that you had advice from an IP regarding the OR not being interested in the Caravan and Van.
Personally I can't see that and would strongly suspect that they would seel to release 50% of the value of each for the estate.
If it were a house then if there were no equity they wouldn't be interested in it, however if there is equity then there is a problem.
I would strongly encourage you to take advise about the safest way to move forward from here.
Who's name is the caravan / van registered in?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK
www.revivauk.com |
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Frank
Starting Member
18 Posts |
Posted - 18 November 2008 : 08:21:07
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Slightly confused here; even if there is equity in a house and the wife owns half (and is not going BR) then the OR will seek to gain half the equity but the wife owns the other half - however to my understanding he can't proceed with that for a year at least?
The van was purchased in april 08, the reciept is in my wifes name and her car was part ex'd for it, I paid the money out of my account for it. I was down as registered keeper but it was put over to her name about two months ago. The caravan was bought in May 08 and the reciept is in my wife name but was paid for out of my account. The IP I saw certainly was of the opinion that as the caravan will be our only and main residence, the respective values were not very high and as we are married so therefore half of everything belongs to my wife then the OR would not be interested.
My real feeling on the situation is this: It seems to me it all comes down to what OR you end up with, what happens on the day and how busy the OR is.
Here we go again... |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 18 November 2008 : 09:50:29
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Oh Frank
I do hope that you get this sorted out. Just as you think things are in the bag so to speak something else crops up.
I will keep reading on how you get on, i dont know who you spoke too about your home and caravan etc but i would get some more advice.
Take care and let us know what happens.
LOL
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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Edited by - Needafriend on 18 November 2008 09:51:08 |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 18 November 2008 : 09:59:26
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Hey Frank
I too was the only one who went BR, but if we had any equity in our home then it would be my share that would be at risk and as far as i know that goes for all your assets.
I realise you have had advice but please please get a second opinion before you take any steps - i called both Paul at Reviva and the helpline number on this site and everything happened in the same order as they stated....Please think about it at least.
Good luck and keep posting with your results
Take care
Jenny
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Onwards and Upwards is the way im going :-0)
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I will be going BR in January at some point
