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Ahmed
Starting Member
5 Posts |
 Posted - 20 January 2011 : 13:12:24
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| hi, i am an un dischrarged bankrupt, i live in a new built property mid terrace, next door which is a end terrace and is up for sale at 145k, the trustee is seeking possesion and when i attend hearing could i argue the trustee valuation is too high and my house is of ower value than 145k. say 140k. and based on a figure could i offer the court the balance after paying the mortgage, any morgage penalty, reasonable costs of sale and 5 months morgage payments which is approx time it would take to sell a house. thanks |
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RHB
Senior Member
1159 Posts |
Posted - 20 January 2011 : 13:33:43
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| What is the trustee valuation & where will you receive the money to do this from? |
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Ahmed
Starting Member
5 Posts |
Posted - 20 January 2011 : 14:17:36
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they are valuing it 150k at 140 i would have to pay abot 8 k which i can borrow, but at 150 1 would have to pay 13k which i dont have
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Ahmed
Starting Member
5 Posts |
Posted - 20 January 2011 : 14:19:46
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orginal debt was only 5k but with charges it has escalated, Also can i ask for an iva as i also have other debts
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 20 January 2011 : 14:36:47
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ahmed you may be a little confused in your terminology
an undischarged bankrupt is someone who has been to court,(and has petitioned or had a bankruptcy order against them) the year of bankruptcy is called undischarged bankrupt.
if you have been to court all of your debts should have been included in your petition.
has one of your creditors been to court and obtained a court order (a county court judgement)against you for an unpaid bill which is why the debt has escalated.
Richard |
Edited by - Richard P on 20 January 2011 14:38:12 |
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Ahmed
Starting Member
5 Posts |
Posted - 20 January 2011 : 14:38:51
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the debts escalation is from the trustees fees, 5k debt and 24k trustees and bankrupt charges
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Ahmed
Starting Member
5 Posts |
Posted - 20 January 2011 : 14:41:30
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imissed court date for bankruptcy and made bankrupt in my abscence and then disputed that i didnt owe it but not with the court but with the person i owed, imade a mistake there, andnow the trustee is seeking possesion
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 20 January 2011 : 15:12:45
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Ahmed
sorry wrote a long reply and it is gone to hyper text
this is one to directly speak to an expert
Richard |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 21 January 2011 : 00:30:10
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Hi Ahmed,
when were you declared bankrupt, and has your discharge been suspended?
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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hi, i am an un dischrarged bankrupt
