| Author |
 Topic  |
|
abr
Junior Member
202 Posts |
 Posted - 16 June 2008 : 11:15:05
|
hi, i went br on 17th april and had a letterfrom or sayingat this time i dont need an interview and would be informed at a later date if i did [did speak to someone for an hour on the phone]. this morning i have had a letter saying i have been appointed a trustee can someone tell me please why this has happened. have i done something wrong
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 16 June 2008 : 11:19:52
|
Hi Abr,
It is standard practice for a Trustee to be appointed where the OR deems you to have in excess of £10k if assets. It will then become the Trustee's responsibility to realise your assets for the benefit of your creditors.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
 |
|
|
abr
Junior Member
202 Posts |
Posted - 16 June 2008 : 12:46:01
|
| thanks for the reply, when i went BR i had 10k in my bank account from the sale of my house, which i passed over to the OR. so i suppse thats the reason. will i have to have a interview with this company which im panicking about now as i have looked them up on the internet and found them to be debt recovery as well. will they make me pay my credetors back as i am on incapacity benefit |
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 16 June 2008 : 12:47:49
|
Hi Abr,
State benefits are deemed as the minimum you can live on, so it is unlikely you'll get an IPA/IPO. However, they will be interested in the £10k from the house sale which the OR should pass over for you. No need to worry!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
|
|
|
abr
Junior Member
202 Posts |
Posted - 16 June 2008 : 13:31:57
|
| thanks again for the the reply. do you know if i will be interviewed again as i found that so nerve racking even though it was a phone interview. just started sleeping at night as well and now i am going to be worrying over this |
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 16 June 2008 : 13:41:15
|
Hi Abr,
It would be unusual, but not unheard of. I would suggest all future dealings are likely to be written coorespondance.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
|
|
|
abr
Junior Member
202 Posts |
Posted - 16 June 2008 : 14:59:49
|
| oh i hope your right. thank god for this forum its so good to talk to other people who are going through the same thing |
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 16 June 2008 : 15:01:31
|
Absolutely .... glad we could help!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
|
|
|
melanie_giles
Senior Member
1191 Posts |
Posted - 16 June 2008 : 23:01:58
|
It would not be unusual to expect to be interviewed by the person appointed your Trustee! I personally interview all bankrupts where I have been appointed following the OR. This is as much for their benefit as well as mine, as it is important that people subject to the bankrutpcy proceedings understand the Trustee's strategy to deal with the assets and how that is likely to affect them.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
Edited by - melanie_giles on 16 June 2008 23:03:42 |
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 17 June 2008 : 10:17:03
|
Hi Melanie,
Many thanks for the insight into how a Trustee operates.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
|
|
|
abr
Junior Member
202 Posts |
Posted - 17 June 2008 : 10:29:34
|
| hi melanie, thanks for the up-date. i have no assets as i am in rented accomadation, i have no car and no job. the only asset i had was the 10k from the sale our house which i handed over to the OR. i did use some of the money from the house sale for various things IE 6mths rent and deposit before going BR but at the time i had no intention of going BR and was going to pay my debts out of the endowment money but after getting it through i found i did not have enough to do so. will the trustee have a go at me for this as im worried sick about it |
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 17 June 2008 : 11:50:37
|
Hi Abr,
I would suggest you won't have an issue, but it would be interesting to see Malanie's take on your situation.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
|
|
|
melanie_giles
Senior Member
1191 Posts |
Posted - 18 June 2008 : 00:41:57
|
The Trustee will want to understand the reasons for the dissipation of the asset - in terms of the timing of the house sale compared to your bankruptcy, and the items you paid for out of the proceeds. I would suggest that a meeting with you is essential to discuss these issues, and perhaps get a better understanding of the situation you were in and the actions you took as a result. Please don't be worried about meeting the Trustee - we are only doing a job at the end of the day and have not been appointed to give you a beating. With a bit of luck you will have someone sensible that you can talk to about your difficulties, and the ordeal will be soon over and you will know where you stand.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
|
|
|
abr
Junior Member
202 Posts |
Posted - 18 June 2008 : 16:03:59
|
| the house sale went through in mar 07, but i didnt get the endowment money through till march 08 and went BR april 08, and i had every intention of paying my crediters of with the money but i found that after paying my rent and dep for the 6 months and paying my daughter back the money that she had paid out on our mortgage i then started dipping in to it for every day living. and i ended up paying towards her wedding out of it as i felt that as she had helped my husband and myself when we needed it that was the least i could do, so im afraid i am going to get done big time for this. how much longer do you think i will have to wait before hearing from the trustee about this, i got a letter informing me that it was passed over on monday this week. |
|
|
|
melanie_giles
Senior Member
1191 Posts |
Posted - 19 June 2008 : 08:26:07
|
I am sure that the Trustee will want to speak to you as soon as they receive the paperwork from the OR.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
|
|
|
abr
Junior Member
202 Posts |
Posted - 19 June 2008 : 08:36:40
|
| so as i live near the river i may as well go and jump in it now, cos i feel worse now than when i was getting all the phone calls. |
|
|
|
Topic |
|
why have I been appointed a trustee ?
