I was bankrupt Matrch 2009 and due for automatic discharge this week. My case was being handled by the Insiolvency Service RTLU unit and an offer for my beneficial interest in my property was made to my daughter. Suddenly with the excuse of 'an oversight' majority of creditors objected, a trustee was appointed to deal with the matter. My file was originally marked no trustee to be appointed and all figures and valuations were accepted. Does this mean that we are back to square one with regards to my property valuation and what can I do about it?
No I have not, do I need to get one from a local agent based on a quick sale. With regard to equity pre credit crunch if the market was good there could be a substantial amount. The figure last year given and accepted by the Insolvency Service was 10k more than the mortgage. In todays market it could be say 30k more.
hi, the creditors can request an external trustee be appointed at any time during the bankrupty, they just need 50% support, or 25% to call a meeting, all paperwork you receive will say subject to contract which means the price is not fixed until the deal goes through, be that more or less expensive
Its quite possible, obviously very dependent on what value is agreed upon. The only positive is the fact that the market is not good and not much is selling.
what can I do about 'an oversight'
Posted - 08 March 2010 : 12:35:31
