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BRMENTOR
Starting Member
United Kingdom
2 Posts |
 Posted - 05 July 2011 : 11:04:19
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I was declared bankrupt in Feb 2009 and discharged in Feb 2010. Recently, a Promissory Note/Personal Guarantee signed by me in 2007, prior to my bankruptcy, has been discovered by a Creditor in connection with a company liquidation. This liability was not included in my Bankruptcy Statement of Affairs.
My question is this: Since the debt apparently arose before my bankruptcy am I liable for this Promissory Note? Or does the fact that it was a 'forgotten' debt at the time of my bankruptcy mean that it is still valid? |
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debtinfo
forum expert
2826 Posts |
Posted - 05 July 2011 : 14:09:47
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| Yes it will be included in the bankruptcy as long as you have not changed the terms since the bankruptcy, as this was not discussed before you do need to let the OR know about it though |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 05 July 2011 : 15:49:19
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Hi,
sometimes people do forget liabilities they had and don't include them in the SOA, but as long as it was a liability prior to bankruptcy, then it is a valid debt in 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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Essie
Junior Member
United Kingdom
115 Posts |
Posted - 05 July 2011 : 19:18:13
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Hiya, would that include any benefit over payments??
Finally got head out of sand in October 2010
BR March 2011
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debtinfo
forum expert
2826 Posts |
Posted - 05 July 2011 : 20:08:41
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| benefit over payments have their own rules, it would depend on the circumstances |
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Promissory Note/Guarantee not included in my Statement of Affairs
