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indy2005
Junior Member
458 Posts |
 Posted - 23 May 2008 : 01:04:45
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Hi,
I wrote to my creditors last week offering 73p in pound. We had 20K from my mum in the wings, and we had enquired about a 20K secured loan.
We got one verbal acceptance, but havent received the responses yet. We decided it wasnt wise to borrow again to get out of debt, and the house is no longer mine (so why should I make my wife borrow against her house), so I went bankrupt Monday.
I didnt mention this on the SOA, although there was a section asking if I had agreed any "composition" or come to an agreement with my creditors.
1) Is this important
2) I didnt mention the DMP with PayPlan, is this an arrangement/composition and does it matter I missed it
3) Although we didnt go through with the loan on the house, to get it agreed in principle we had to put my name on it to get the salary up. Will this "non followed through" application be known by the OR, and will it undermine any claim I make that I have no interest in the property. They rang up today to ask how soon I could sign and return it and I told them the good news.
Thanks
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 23 May 2008 : 13:04:51
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Hi Indy,
At the interview you can discuss with the examiner your attempts to offer settlement to your creditors.
If the secured loan did not proceed then I would not worry about this, but you can let the examiner know that it was your intention to do this, but was unable to do so in the long run.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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indy2005
Junior Member
458 Posts |
Posted - 24 May 2008 : 00:09:30
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Thanks Julian,
Would rather not mention the loan as me securing further debt against the house sounds to me like undermining my lack of interest in the house .
Got a response from Sainsburys Bank from my offer. They have not only refused the offer insisting on complete settlement, but said that they would be unwilling to freee interest and charges.
I said it doesnt matter now...perhaps they should have accepted 73p in poound after all. |
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Offers made last week
