So there I am sitting in court feeling confident that I am about to win an order to sale case brought against me by jezebel. Thats the ex.
In walks a solicitor representing the trustee's and flops the complete show. Everything went downhill. Two weeks before despite my protests I eventually learnt the realities of being Bankrupt. A visit to the Insolvency Service after ignoring letters I regarded as another form of threatening letters from the council resulted in an invitation to the party someone called a trustee. ( Not to be confused with someone looking out for your best interest )
Sitting in the court in my mind I was thinking of some expletiives to tell the judge when he seem to take pleasure in telling me I have no voice. You are Bankrupt. My ears are still ringing with those words. The only thing that hurt more was Jezebel was sitting right behind me when he said it.
So the hard ground was my bed last night. And rock was my pillow too. Talking Blues.. Judge told me I have to leave my house that was valued at £200k and Trust E to sell my house to pay a council tax bill.
The letters I received claimed £2600. The Insolvency service claims its £12000.
I was under the impression that an IVA would be sought but even before that some sort of interview. Are they allowed to just go for the juggular and kick you out of your own house??
I bought this dwelling with Jezebel but she vacated the property and has not contributed to the upkeep of the dwelling for over 10 years. I have proof that I alone kept the property alive. But somehow Jezebel has worked out that the property value had trebled and wants to claim equity.
I know Jezz is entitled to half but I was hoping to put stop to her claim by proving she shirked her responsibilities, vacated and has not contributed since and so I wonder if any of the experts have any idea how it is possible to claim at least 90% equity as I seem to have no voice at present.
I spoke to Trust E who sounded really nice over the phone but dont they all when they want your money. Anyway I was trying to establish that with Trust E involved thus controlling my voice I fear Jezebel will get a free and unchallenged opportunity to claim and get 50% equity where as I am made to pay all bills with my share.. Is this so??
Is it true that I dont have a voice??... Can I not still challenge any decisions concerning equity with or without legal representation ?? In the bankruptcy stage dealing with the trustee can I have my own legal representative?? Even though the trustee's control my affairs??
Any ideas anyone regarding how I go about claiming full or near enough all equity of the property as its obvious after claiming their debt and paying themselves handsomely there will still be a nice sum remaining???
Is there anyway of stopping Jezebel??
Though my financial affairs are controlled by Trust E can I approach the county court to make a claim against jezebel for X amount equalling her non contributions that was made on her behalf??
Would that action be considered an asset by the trust E??
Would an equity challenge not be considered part of my assets which I thought the Trust E's had a duty to collate??
TBH, I think whilst you are in this frame of mind you are not going to think straight, hence not opening & reading letters properly. Could you settle the bill at all? If not, then it is in the hands of the trustee & if Jezebel as you call her is thinking straight then she will make sure she gets her half of the equity as she would be entitled to at least that probably if you were to divorce.
Excuse me if I have caused offence by calling her Jezebel. We were never married... phew!! BUT
I didn't really want to go into the story of how something so bad got worse more than to say its not all that glitters that is gold.
We both invested in a property as individuals/common law for the technocrats. Therefore I assume she is within her rights to claim 50% outright.
But I also assume that approaching a solicitor then concucting a story claiming one was abused and forced to leave one's abode amongst other stories in order to discredit the character of another so as to show that you are deserving of your equity claim must mean one has something to hide or one had done something wrong.
In the same way that I assume that if someone walks away from their responsibiliies and over time makes no contribution to the investment then when it comes time to take leave of the particular investment then the equity should be split according to contributions.
I argue that if I handed in the keys of the investment to the mortgage establishment and walked away from my responsibilities as Jezz did then no one would be in a position to claim any equity profits.
But for over 10 years I did my best and paid. Fought off repossessions and other debt threatening situations. My mistake was to rent part of the property to an acquaintance who eventually brought the Council Tax payments into disrepute.
The local authorities have also embarked on a policy of agressively seeking revenue which eventually led them to threaten bankruptcy proceedings against individuals to obtain monies they think they are owed. My initial bill was £2600. If I could have paid it then I would.
Am I thinking straight?? I believe I am. I am in shock a little. Cheesed off a bit. Frustrated, stupid and feeling like I just got mugged. I spent over £50K on a property that they are taking away from me without anyone asking me WHAT HAPPENED??
Am I ignorant of the rules and proceedings surrounding bankruptcy? Thats evident. Hence I am asking for help, advice and even conversation from someone in a similar situation.
The other question I have is though a certain amount of the proceedings is in the hands of the Trustee especially when it comes to my financial affairs is there anything I can do when it comes to discussing the equity???
I'm notwanting to seem unsympathetic BUT your anger is the overpowering sense that is coming across hence my concern that you may not be thinking straight.I think your ex partner would have to prove her share to the trustee as he/she may well argue that your share is greater in order to get more money. Maybe your story shows to other people visiting the site that it is best to get advice straight away. Hopefully one of the experts may be able to help, how much equity are we talking about?
Well RHB. Thanks all the same for responding. We all react to circumstances in differing ways. For me, I feel as if someone is taking what is mine and I cant do anything about it.
There was a TV programme that came on the other night, Would You help a stranger?? I feel like the victims in the programme. Maybe I have a problem being a victim.
My understanding of equity is the value after mortgage is repaid. Mortgage is £40k Last Valuation was £220.
Shared ownership halves the value. House Assn. 50% hence our share £110. After mortgage. £70. After devide. £35.
£35 will more than cover any debts the trustee is chasing me for. Therefore I assume they will not waste time trying to secure my claim of at least 90% of the equity as they will get there monies regardless.
What do you think??
I came across this site by mistake. But believe me when I say it is my intention to highlight the realities of being made bankrupt. Though I now see making oneself bankrupt seems to be an option to alleviate financial stress that I was unaware of.
Well here is another question. Is there any help for those already caught up with the trustee or does the help stop at the IVA stage??
I have definately learnt the hard way RHB. I have no savings and the equity is my only way back to real life.
I did not even get offered the opportunity to speak about an IVA. That solicitor acting on the behalf of the Trustee's said some stuff to the judge after colluding with Jezz's representatives and the judge just bypassed me and gave them their order.
I want to get a solicitor but I dont know if their actions will be silenced by the trustee's power...
I'm gonna have another attempt at talking to the trustee's tomorrow.