Is there always a creditors meeting when someone goes bankrupt and what are they for?. All I have is my car which i asked to be an exempt asset in my bankruptcy, because I need it for my self employment. There is near enough negative equity in my home, and my uncle intends to buy any BI interest. So will there be a creditors meeting in my case, or is it only when someone has lots of assets in bankruptcy.
I honestly thought that creditors meetings were for IVAs only, and that the disposal of your assets were the sole responsibility of your OR. Could be wrong though.
as in an IVA there is almost never a physical meeting rather a "virtual" meeting where the creditors are sent a report and advised of the likely return from contributions or sale of assets.
it seems likely now that if the OR believes there to be problem with you keeping the car they are quick to point this out at the OR interview as they will already have done the research themselves before the call / meeting.
regarding the car i believe that to be safe
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
What is a creditors meeting
Posted - 25 November 2008 : 17:57:54
