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Viki.W
forum expert
United Kingdom
2211 Posts |
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Skippy
forum expert
United Kingdom
3290 Posts |
 Posted - 23 December 2010 : 12:45:37
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Thanks for that Viki. I love the way the rules are being changed at short notice - it must be very worrying for people who have recently gone or are about to go BR.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 23 December 2010 : 17:19:52
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Thanks Vicki
the original post mentions other changes and plans for changes for properties
can you post as and when you see more.
in order to save confusion can you change the header as the changes will come in force 2011
sneezing greetings best wishes to all
Richard |
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debtinfo
forum expert
2826 Posts |
Posted - 24 December 2010 : 00:20:26
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| I think the thing to remember is that no rules have actualy changed |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 24 December 2010 : 09:09:05
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My goodness, The Insolvency Service must be hard up.
this, along with the other changes at the beginning of December, will greatly reduce the numbers of debtors seeking bankruptcy as an alternative debt solution.
Happy Christmas!
John Blackadder |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 24 December 2010 : 23:49:23
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Hi,
Reviewing the property at the 2 year 3 month point is nothing new, however, ending the option of buying out the BI for a nominal £1 is definitely the IS seeking further ways of raising fee income, i.e. getting desperate!
In most cases at the 2year 3 month point if the property returns to slight equity(say £2,000) most of that is going to go to the IS, hardly of benefit to creditors. I know the IS regularly transferred properties with equity up to £12,000(IP's generally not interested due to low margins) to RTLU so that they could benefit from any funds raised.
They're also looking to get rid of 1 in 5 permenant staff as well.
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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Changes as at 1st Jan 2011 Re BI
