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davidd
Starting Member
United Kingdom
1 Posts |
 Posted - 30 June 2011 : 06:08:05
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Hi
Can somebody please help me with the following questions. Eighteen months ago I was declared bankrupt with a portfolio of buy-to-let properties, six of which WERE NOT repossessed by the lender, and were instead given to an LPA to manage. I am now being asked for council tax payments by the council, and three of the properties are in the process of being sold at a considerable loss on the origional loan. My questions are:
1/ Am I liable for the council tax payments?
2/ The building societies, (Northern Rock & Mortgage Express,) are insisting that although these properties were declared as part of my bankruptcy, (and I have signed nothing since,) I am still liable for any shortfall, and could face further insolvency should I refuse to come to a settlemnt agreement. Am I still liable, and could I be bankrupt again on the same property?
If somebody can help me I would be so grateful, as all the signs of major stress are beginning to happen again.
Thank you.
David D |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 30 June 2011 : 17:05:25
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Hi,and welcome to the forum,
regarding the council tax, if the property was empty, then you would be exempt for 6 months, after which you become liable, so if you were declared bankrupt 18 months ago, and the council is only asking now, I presume that tenants have been resident until recently, which would be why LPA receivers were appointed, as they wouldn't normally be appointed for vacant properties.
As for the repossessions, any shortfall should be claimed in bankruptcy as once repossessed the shortfall becomes an unsecured liability, unless you signed a deed of acknowledgement of debt.
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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Buy-to-let properties. Council tax and shortfall
