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T O P I C R E V I E W
bang up
Posted - 21 March 2009 : 10:00:26 hi all
please, what exactly does rtlu stand for and what is their role in bankruptcy? are they a private company and why do some people have them listed on the insolvency register and other people have the names of companies etc instead.
is this anything to worry about? will it affect my discharge in july?
thanks
4 L A T E S T R E P L I E S (Newest First)
daveg
Posted - 21 March 2009 : 14:14:30 thanks all
i got an ipa but no assets so i guess this is nothing to worry about.
John
Posted - 21 March 2009 : 13:21:55 Hi
the OR is part of the Court system. In some cases where some monies need collecting and or assets realised the OR may deal with this acting as trustee. Alternatively the case can be passed to RTLU to carry out these duties. They are also part of the government system.
Another option the OR has, and is usually the case when there are high DI and the value of assets is high,is to pass the case to an IP or private sector trustee. The number of bankruptcies in the country today dictates that OR's and RTLU could not possibly cope with the case volume on their own.
John White England Jackman & Spacey
Jane.l
Posted - 21 March 2009 : 12:39:01 I THINK they handle the cases where there are assets or an IPA is in effect.
I stayed at the same OR's office until I was given early discharge as I was unemployed and had no IPA
Hubby was transferred to RTLU as he had a nil tax code IPA.
Niobe
Posted - 21 March 2009 : 11:12:27 It stands for Regional Trustee Liquidator Unit, but I have no idea of exactly what they do.
