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angie.re
Starting Member
6 Posts |
 Posted - 24 August 2009 : 17:20:29
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| Was made bancrupt in 2005,am discharged but the trustee wants £20,000 as iown a propery,thats the equity,but cannot get a remortage or loan,as there are charges on the house,i have no bank account,earn very good money know but goes through wifes account,will they take my house of me after all this time?dont know how else to raise the money!! |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 24 August 2009 : 21:49:50
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Hi
The trustee has a duty to realise assets for the benefits of the estate - ultimately going towards the administration of bankruptcy and the creditors.
As such you will need to demonstrate the equity position and suggest you have the property valued and obtain a mortgage statement.
if the equity is £20k then as you are unlikely to be able to remortgage or borrow money you would need to try to come to an agreement with the trustee for a payment term if possible.
Didi you manage to put any money aside since discharge for the beneficial interest?
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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Jane.l
Average Member
511 Posts |
Posted - 25 August 2009 : 10:00:01
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| I thought the trustee had 3 years from bankruptcy in which to deal with the house? Are you not out of the time limit? |
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angie.re
Starting Member
6 Posts |
Posted - 25 August 2009 : 10:29:45
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the trustee made application in court last year to have a possesion order,as it was near the time for the time limit! I was apartner in a buissness,that the other partner went bancrupt first,and they have got away with not paying a penny back,..It doesnt seem fair.I have a wife and 2 kids,dont know how else to raise the money....
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Was made bancrupt in 2005,am discharged
