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Irfan
Starting Member
13 Posts |
 Posted - 03 April 2011 : 12:07:18
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Hello
After being made bankrupt are all the charges on the property of unsecured loans written of? Do you have to pay them back at some stages even if you buy your BI?
Thank you |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 April 2011 : 17:13:48
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Hi and welcome.
If you were able to purchase the BI then your property is safe.
When were you made BR?
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2011 : 18:30:41
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| if there are final charges then the debt is secured and remains attached to the property |
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kentmikey
New Member
61 Posts |
Posted - 03 April 2011 : 18:55:40
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whart does BI stand for?
Mikey |
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2011 : 19:04:21
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| BI, is the beneficial interest in a property, ie how much your share is worth after deducting all charges from the sale price |
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Irfan
Starting Member
13 Posts |
Posted - 03 April 2011 : 19:18:00
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quote:
Originally posted by Irfan
Hello
After being made bankrupt are all the charges on the property of unsecured loans written of? Do you have to pay them back at some stages even if you buy your BI?
Thank you
Thank you for reply
I was made bankrupt on 23 of March & tomorrow I have interview with OR.
Including charges on the property I am in negative equity but reading forums it seems like I will still have the charges after being discharged.
Does anybody know more? Can you give more information please?
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2011 : 19:22:13
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| yes the charges will remain on the property after discharge |
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Irfan
Starting Member
13 Posts |
Posted - 03 April 2011 : 19:58:58
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quote:
Originally posted by debtinfo
yes the charges will remain on the property after discharge
How about ccj and payment order?
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Irfan
Starting Member
13 Posts |
Posted - 03 April 2011 : 20:07:42
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even if I buy the BI the charges will remain?
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2011 : 20:16:56
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yes anything secured on the house will remain
a ccj will be included in the bankruptcy if it is not secured |
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Irfan
Starting Member
13 Posts |
Posted - 03 April 2011 : 21:29:34
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even if I buy the BI the charges will remain?
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2011 : 21:54:32
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| yes they do, everything secured on the house stays secured on the house even if you buy the interest, i cant say it anymore clearer than that |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 03 April 2011 : 22:56:51
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Hi Irfan,
in relation to the charges, do you knowif they were interim charging orders or final charging orders, as with interim orders they will be dismissed by the court and revert to unsecured liabilities, if they were made final prior to bankruptcy then they remain as a secured charge on the property even after bankruptcy.
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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Irfan
Starting Member
13 Posts |
Posted - 04 April 2011 : 16:52:12
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Thank You for reply
i think they all are final charging orders,
i just want to know if i decide to sell my house in the future after being discharged from bankruptcy & they dont get all the money will i still have to pay them back or are included on bankruptcy
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RHB
Senior Member
1159 Posts |
Posted - 04 April 2011 : 16:59:40
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| I'm not sure you can sell if they don't agree. |
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Irfan
Starting Member
13 Posts |
Posted - 04 April 2011 : 19:59:28
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Can someone give me more advice as it look to confusing & to complicated.
I will appreciate if you give me your mail or one of the experts drop me mail please.
Thank you
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Topic |
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Hello After being made bankrupt
