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| indy2005 |
Posted - 21 August 2008 : 11:52:36
I have just returned from holiday and have asked the OR for an update. He said no trustee was appointed at the creditors meeting and so the case would be handled by the RTLU (Regional Trustees and Liquidators Unit). He also said that he is preparing a report for the Secretary of State and the court who made me bankrupt, and that for most people he prepares such a report for...an interview is required to put across their side of the story. THis has me terrified as I have a complex property issue, but have also got into this mess through gambling. Is this the BRO process...or am I in big trouble? I have been completely open and transparent and even sent them copies of all my bet statements which I didnt have to.
Also is me going to the RTLU a good, bad or indifferent thing?
Thanks
i |
| 9 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 22 August 2008 : 06:56:47
Thanks John
Thats better news as I know we have assests being the house and my OR said it would go over to am IP or someone.
Thanks again
Jo
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!" |
| indy2005 |
Posted - 22 August 2008 : 01:19:48
quote:
Originally posted by John
Hi jo
all cases where there are asset issues pass from the OR to a trustee, usually the RTLU, there doesn't have to be the possibility of a BRU looming.
www.Bankruptcyhelp.org.uk
0800 078 9367
Aaaah. So its usual for the RTLU to get involved over a designated IP. I thought it was the other way round. My examiner said no decision was made at the meeting to assign a trustee. I read that as meaning....none of your creditors turned up or cared. |
| John |
Posted - 22 August 2008 : 00:49:13
Hi jo
all cases where there are asset issues pass from the OR to a trustee, usually the RTLU, there doesn't have to be the possibility of a BRU looming.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| Needafriend |
Posted - 21 August 2008 : 22:38:45
Hi John
So what your saying then is if our file goes to the RTLU then that means we will def get a BRO.
Is that right?
Jo
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!" |
| John |
Posted - 21 August 2008 : 20:55:46
Hi
ALL trustees charge fees, independent IP's and RTLU.
RTLU however are less mercenary than some IP's regarding fees. Some give the IP's a bad name and add ridiculous charges to simple cases when engaged as trustees.
I had one client recently made BR in his absence (he was out of the country)for £3000 and he had equity in his property. To get BR annulled you have to pay the debt in full and the trustee's fees.
The trustee's fee in this instance, to deal with one single creditor, was £28,000!!!!!
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| indy2005 |
Posted - 21 August 2008 : 19:00:31
quote:
Originally posted by John
Hi
they are very likely to want to discuss this point with you in more detail but that, in itself, is no cause for alarm
www.Bankruptcyhelp.org.uk
0800 078 9367
Thanks. Is RTLU better than an Insolvency Practicioner...or are they one and the same? i.e. RTLU are internal to OR so are more/less ruthless or are not chasing their own interests in terms of fees?! |
| John |
Posted - 21 August 2008 : 16:46:01
Hi
they are very likely to want to discuss this point with you in more detail but that, in itself, is no cause for alarm
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| indy2005 |
Posted - 21 August 2008 : 15:46:55
quote:
Originally posted by John
Hi
RTLU is the trustee in bankruptcy.
All cases where there are issues with assets pass across to them. Staff at RTLU are trained in different areas of insolvency than the OR's examiner's. Any BRU/BRO related to assets would also be dealt with by them.
Cash being an obvious asset, which were directed toward messrs Hill, Ladbrokes etc, would be subject to such investigation.
So at this stage, as you have admitted gambling, nothing, as yet, seems unusual.
www.Bankruptcyhelp.org.uk
0800 078 9367
Hi,
Thanks. Spoke to the OR today and he said the secretary of state letter was the beginning of the BRO process.
When you say "issues with assets", do you mean any assets to be realised or is there something in my assets which is complex and thus it has gone to them. I was under the impression I have only gone to the RTLU because the creditors couldnt agree on appointment of a trustee so it is being handled internally by the ORs own trustee "wing".
I ask about assets because I transferred the house to my wife in March this year and had a declaration of trust drawn up to state that I had withdrawn my equity 2 years ago to pay off unsecured debts.
Regards
i |
| John |
Posted - 21 August 2008 : 15:25:50
Hi
RTLU is the trustee in bankruptcy.
All cases where there are issues with assets pass across to them. Staff at RTLU are trained in different areas of insolvency than the OR's examiner's. Any BRU/BRO related to assets would also be dealt with by them.
Cash being an obvious asset, which were directed toward messrs Hill, Ladbrokes etc, would be subject to such investigation.
So at this stage, as you have admitted gambling, nothing, as yet, seems unusual.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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