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T O P I C R E V I E W
berylc
Posted - 16 December 2008 : 00:16:10 One of my creditors is making me bankrupt. The stat demand has been served and in process of 21 day period. Do I hear from Court next and at what point can I apply to stay in my property for upto 12 Months? The Mortgage is in my sole name and I have 1 child and live with partner. I have come to terms with bankruptsy and they are actually doing me a favour. Also at what point could my partner buy the equity? Be grateful for any advice. Thanks.
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 16 December 2008 : 06:31:21 Hi
the Statutory demand allowys you 18 days in which to present a defence, if not after 21 days the creditor may petition for your bankruptcy.
Which creditor is it as quite often they will issue the demand but not follow through on the Br because of the cost.
What equity do you have in the house?
The Purchase of beneficial interest can happen between 3 - 12 months after the Br so there is not usually any rush. You just need to let the Official Receiver know that you have someone who is interested in purchasing the BI
Paul Johns Assisted Bankruptcy Specialists Reviva UK
