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pattie x
Starting Member
United Kingdom
12 Posts |
 Posted - 01 February 2011 : 05:10:51
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we had our repossessed after 34 years by sub prim lender (never knew at time, we introduced by lender)
Had excessive charges etc. Just when I rhought thing were improving HMRC want to make us bankrupt for vat over 115.000. Leading up to house repossession oh did not pay vat. VAT office sent in statutory demand, tried to ask for true debt from VAT office not helpfull.
Had to go to cour, Judge said figures are ridiculous you would have had to have earned over half a million, and would not have lost your home. Said he just had tostick to the law and said we had to proove we dont owe debt (sole trader)we have asked for more information. we have no assets, do you think they will make us banktrupt just to drw a line under it. if we can proove (somehow) not that much. The vat people seem a law unto themselves. Thank you |
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debtinfo
forum expert
2826 Posts |
Posted - 01 February 2011 : 07:51:07
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| yes they will probably make him bankrupt if he does not sort it out, i think you need to speak to a good accountant quic, how long has he not filed vat returns for |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 01 February 2011 : 09:20:47
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Sounds a nightmare - when was the statutory demand served?
As Debtinfo has said, see an accountant as fast as you can
Good luck, Housing
"There are no problems - only solutions" |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 01 February 2011 : 18:25:36
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Hi Pattie
an accountant could be good to see but they may be reluctant to get involved as they may fear non payment.
once HMRC start adding interest to the debt, recovery fees etc , etc the bill gets to silly figures.
even after negotiation and examination by accountant you must consider if you can still clear the VAT debt. ie if they got 75% reduction could you afford to pay 30K VAT bill, I dont know if you have other debts but BR may be the most appropriate option.
if this is the case HMRC have saved you the court fees. again it may be better to stop fighting the process and plan the outcome
with a stat demand you have a very limited response time, can i suggest that a free phone call with one of the experts just to confirm the options available to you.
regards Richard |
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pattie x
Starting Member
United Kingdom
12 Posts |
Posted - 03 February 2011 : 00:12:44
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Could not pay that. hoping for less but less face it my luck not that good. anyway
Our house was sold for 150.000 less. We ended up with about £350.00
(which we have not cashed) This was two years ago, we are lucky to be in rented as nobody wanted to know after repossession. So worried about getting another property to rent if Landlord says no to bankruptsy. We have been perfect tenants for 2 years, rent £1,500.00
per month.
Nothing to do with bankruptsy but sent Subject Access Request to Solicitors and Lender (all part of Lehmans and keep changing names)
they have not complied so Finacial Ombusdmen Investigating) We have had no breakdown of fees. It looks like we went of court with fees added to debt (not true arrears).
Winging (I know)
We had till the next day 9.30 to leave home, our property was
looted, doors left open (we were given 14 day by the court baliff to remove our possessions)
My poor Mum was staying with me teminally ill (since died in hospice, she wanted to be with me) She said it was the worse thing that happened to her, being thown out on the street.
The solicitors blamed us and said you should have packed up and left.
My husband was hoping to come to an arrangenent. They pressurised him into offer too much.
Then
the estate agent told buyers (dont buy this house, bad area i should know as I live there. It is a grade 11 listed building and they compared it with a tiny house that had sold
Anyway sorry to go on but I feel know there is no justice, we want to come to an arrangemtn, my husband and I was in shock and so much stress (I/we thought he may do something to himself. (Another thing I feel terrible about I have severe arthritus, so can you imagine with my mum the stres he was under. He never told me, one minuite I was going to bed early the next he told me we had to be out at 9.30 next morning. This is again a complete shock |
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we had our home repossessed after 34 years
