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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by bearsndogs[/i] [br]I was made bankrupt in December, 2009 and needless to say, things have been very difficult during that time. It has resulted in the Trustee telling me I have to sell my property, which has now been on the market for just over three months. To date, given the very slow market, there has been very little interest, although there may be someone who may purchase the property with a view to myself and my husband remaining there on a leasing basis (we are both over 60 and obviously don’t wish to leave our home). However, I have a couple of queries which I hope someone can answer for me. When I was made bankrupt, I obviously had to provide details of all creditors. Approximately half the total debt owed was made up of a loan (not the petitioning creditor) which had been in the joint names of myself and husband. I had originally considered opting for an IVA, but due to the nature of my husband’s employment, it was possible he could have lost his job (things have changed since then, however, in this regard!). However, we recently received statements from the loan company indicating that the debt had been settled by an “in house” payment and this is confirmed by my credit report. I have two questions regarding this : 1. As the debt has been settled, and the remaining debts are in my sole name, would the Trustee still be able to enforce the sale of our property, even though my husband does not have the wherewithal to buy me out? 2. If and when the property is sold, would this debt still be included in the bankruptcy estate? (I know this might sound a bit silly, but I don’t think I should have to pay twice! My second query relates to the remaining debts. If I had not been bankrupt and making payments to the creditors and the time came for being able to settle the debts, I believe I would be able to negotiate with them on a settlement figure (generally less than the balance owed). Does the Trustee apply for such settlement figure? (I don’t imagine the petitioning creditor will want anything less than the amount owed!) If this is the case, then obviously this will considerably reduce any costs that have incurred during the time of the bankruptcy. Sorry for being so long-winded, but any advices would be much appreciated. [/quote]   Check here to include your profile signature.