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indy2005
Junior Member
458 Posts |
 Posted - 24 June 2008 : 12:21:48
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Hi,
After a 5 week wait, I finally got my pack today from the OR. So I am now back with probably a thousand questions a day.
First comment, I was expecting a telephone interview and they have asked me to go in to the office for a 3 hour interview. Is this normal, or am I in trouble.
There is a form in the pack authorising the OR to contact my work, but I was under the impression they only did this in exceptional circumstances.
I have been asked to detail anything I have the use of but dont own. My wife bought a laptop through a limited company which is now dormant which we all use as a house hold computer. Do I need to list this if it was paid for out of my wifes account?
Any advice appreciated!
Regards
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 24 June 2008 : 13:07:51
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Hi indy2995.
It is surprising that you got a face to face interview on a debtor petition. Have you or are you trading?
You don't need to list the laptop. They are referring to things such as cars and other items such as this that may constitute an asset. Think of it in terms of 'would anyone see me using this and think it is mine'.
Contacting your work is unusual unless they have good reason. Could they have found out something that would need to be clarified with your work?
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
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indy2005
Junior Member
458 Posts |
Posted - 24 June 2008 : 13:25:38
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Hi,
Thanks. So is this work contact form not a standard issue with the pack then? It is an authorisation form that authorises them to contact work should they need to. I thought perhaps everyone got one.
The only thing I mentioned about work was that I have about 5K in shares held in trust for 3 years as part of a bonus scheme. If work find out it could make things awkward for me and if I lose my job, eveyone loses out. I cant touch the shares for 3 years anyway but have the documents about them.
The only other reason they may want to see me is I transferred a house to my wife in Feb this year and had a declaration of trust drawn up as I took out 65K in equity two years ago to pay my unsecured debts which was more than my half.
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indy2005
Junior Member
458 Posts |
Posted - 24 June 2008 : 13:27:33
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...oh and I listed I was a company secretary on my wifes company, but that is dormant now and we made about 500 quid in one whole year. I have, on the friday before I went to court, sent of a form to companies house to have me removed. I was only on as secretary as a convenience as at the time you had to list a company secretary, but you dont now. I never participated in the business at all.
Wait a minute...reading the document, although they want my work adress the document is titled
To:
The Commissioners of Inland Revenue and Department for Work and Pensions |
Edited by - indy2005 on 24 June 2008 13:34:05 |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 24 June 2008 : 13:34:39
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indy2005
It sounds like they will be writing to them to see if they can get any of that share money.
They will look into the transfer of the house quite closely, but as long as it was done legally and you have the legal papers and documents you should be fine. Take them with you to your interview.
Also, if you paid off £65K in debt two years ago, was this all your debt and how much do you now owe?
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
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indy2005
Junior Member
458 Posts |
Posted - 24 June 2008 : 13:39:50
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quote:
Originally posted by Suzanne
indy2005
It sounds like they will be writing to them to see if they can get any of that share money.
They will look into the transfer of the house quite closely, but as long as it was done legally and you have the legal papers and documents you should be fine. Take them with you to your interview.
Also, if you paid off £65K in debt two years ago, was this all your debt and how much do you now owe?
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
Hi,
I would rather my mum buy my interest rather than them make a fuss at work. They are in trust and I am not allowed to touch them for 3 years.
At the time I paid of 65K I owed about 70K all in my name and unsecured. Gambling debts  . Unfortunately when the debts were cleared and we were ready for a fresh start I did it again, literally within the month. So now went BR owing 55K, but have been paying into a DMP for nearly 2 years. |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 24 June 2008 : 14:02:41
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Hi
From what you have said, the reason you are being interviewed face to face is the gambling. If you have incurred debt in order to gamble of £55K they are looking at a Bankruptcy Restriction Order, as your gambling is a material factor in the reason for your insolvency.
If there is no way they can get their hands on the money within the next year, you should be OK as long as you can evidence this. They may not then contact your employer - and if you don't sign the form but expressly ask them not to that will cover you further.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 24 June 2008 : 14:06:18
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Forgot to mention
They are going to be concentrating on the transfer of the house, how the £70K debt was incurred, how the £65K equity release was dispursed, how and how quickly the £55K was further incurred
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
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indy2005
Junior Member
458 Posts |
Posted - 24 June 2008 : 14:52:50
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Hi,
Thanks. Wasnt sure if I was in a position to tell them I dont want them to contact work when I have assets there.
My additional debt was run up very quickly in the space of a month, and within 6 weeks of the debt being cleared from a mortgage payment.
I quite expect a BRO, but just gambling in itself isnt a BRO I thought. I had every intention of paying back and have been in a DMP for 2 years. It is only because my creditors refuse to stop interest/charges that I went BR.
I hope (Julian I hope your watching) that the fact I ran up debts again immediately after clearing them doesnt alter the postion of the house (I am talking about my good friend "equity of exoneration") as my wife released equity to me in good faith - she obviously believed me when I said I was never going to do it again (I havent now gambled for over 2 years).
I understand I am likely to get a BRO, but hope my stupidity doesnt undermine the fact I withdrew equity to pay off my debts and to my benefit and not to my wifes.
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debtfreesusie67
Junior Member
256 Posts |
Posted - 24 June 2008 : 16:05:04
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Hi indy double check the form you've received. I'm sure its the sames as Ive got. It allows them to make your tax code nil and then you pay the tax to the OR.
Hugs
Sue
The only way is up
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indy2005
Junior Member
458 Posts |
Posted - 24 June 2008 : 20:50:16
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Thanks,
Looks like it could be. The title is
The Commissioners of Inland Revenue and Department for Work and Pensions
I panicked as it is asking for my work address, and I thought all they would need to nil my code is my tax office and my NI, both of which I provided in the SOA/
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debtfreesusie67
Junior Member
256 Posts |
Posted - 24 June 2008 : 22:45:21
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They asked for my works address as well indy. I wish I could remember the form number as I'm sure that would help.
Hugs
Sue
The only way is up
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Edited by - debtfreesusie67 on 24 June 2008 22:46:00 |
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Topic |
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Advice - just got interview datw
