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| bearsndogs |
Posted - 23 August 2012 : 09:21:51
Hi - just wanted to know that if I was able to raise sufficient funds to buy back the BI in my property (I think the minimum is £1,000), would the Trustee still be able to insist on the property being sold?
Thank you.
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| 4 L A T E S T R E P L I E S (Newest First) |
| Viki.W |
Posted - 23 August 2012 : 12:21:18
You can buy back the beneficial interest, but if it's not in negative equity, then it would be for the amount of your share of any equity.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
| bearsndogs |
Posted - 23 August 2012 : 11:39:33
Property is not in negative equity and went BR in at the end of 2009. Property is sold subject to Contract, although I don't think it'll go ahead - bit of a funny one! However, the 3-year period is up in December, so just wanted to know what might happen.
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| Viki.W |
Posted - 23 August 2012 : 10:24:17
Hi bearsndogs,
They wouldn't force a sale if there is no equity.
What is your situation?
When did you go bankrupt?
How much negative equity is your home in?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
| Niobe |
Posted - 23 August 2012 : 09:45:54
Hi,
No idea on this one - hopefully Viki or Debtinfo can advise. |
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