| Author |
 Topic  |
|
|
pheonix1965
Starting Member
United Kingdom
1 Posts |
 Posted - 25 May 2012 : 00:13:55
|
| Hi, I am about to head off to see the Judge on 28th May to petition for BR. I am hearing all sorts of horror stories about the Offical Reciever can someone please give me some guidance on how they deal with you. Also I own my own home but there is none or very little equity so does this mean I will loose my home too. I am so worried so any advice would be appreciated. |
|
|
year 2029
Average Member
590 Posts |
Posted - 25 May 2012 : 00:23:41
|
Hi phoenix and welcome.
My personal experience recently of the OR and Trustee I have to say is very favourable.
I was very open and transparent with them, and they treated very fairly, and with no stigma.
Although bankruptcy is not to be taken lightly, I have found it the best single form of action that I have encountered in recent years.
-----------
My home was in negative equity, and I was able to get the benificial interest (BI), bought by a third party, VERY early on in proceedings, and therefore removed my home from the bankrutcy estate.
-----------
Do you have any other specific queries?
You can also look on the insolvency website, and download and view the very documents that you will be given when bankrupt.
I hope this helps.
http://www.bis.gov.uk/insolvency/Publications |
 |
|
|
year 2029
Average Member
590 Posts |
Posted - 25 May 2012 : 00:48:09
|
By the way,
Apt name, as I'm sure you will rise from your metaphorical ashes.
Keep smiling! |
|
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 25 May 2012 : 06:36:59
|
Good luck for the 28th.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
|
|
|
|
Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 May 2012 : 09:13:54
|
Good luck from me too.
Have you taken advice, as you should really have everything regarding your home explained to you prior to bankruptcy. If you haven't, feel free to contact any of the experts on here for a chat.
As the other posters have said, if your home is negative equity then you can make an offer to buy back the beneficial interest, if it's accepted then your home is safe, if it isn't, then the OR will value your home again in 2 years and 3 months and deal with it then.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
|
|
| |
Topic |
|
I am hearing all sorts of horror stories so any advice would be appreciated
