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Sam.sp
Starting Member
8 Posts |
 Posted - 17 July 2012 : 16:29:01
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| Iam not out of bankruptcy but i still have to get a finiancial settlement completed with my ex wife, the properties are in her sole name, If I get a share of these through matrimonal law will these be classed as new assets? or will they still be subject to the OR and will they be able to claim them off me? many thanks |
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Sam.sp
Starting Member
8 Posts |
Posted - 17 July 2012 : 17:43:35
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has someone please got any advice?? amy desperate! thanks
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 17 July 2012 : 17:58:24
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Hi Sam,
Was the OR aware that the divorce was going through and that you had an interest in these properties.
These will be classed as assets under your bankruptcy and can be claimed.
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 |
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Sam.sp
Starting Member
8 Posts |
Posted - 17 July 2012 : 18:14:16
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yes they were, but the ex wife paid off the recievers ie my interest in the properties,so if i get them back thru the financial settlement will they still be able to get them? also my father placed a personal charge on the property which was recognised by the creditors so could i go for that?? thanks for your help
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 17 July 2012 : 18:16:59
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If you bought back the BI, then no, they can't be claimed.
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 |
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debtinfo
forum expert
2826 Posts |
Posted - 17 July 2012 : 18:18:00
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| In theory if you were awarded assets in a divorce hearing prior to your discharge then they could be claimed by the trustee, if the award was not until after discharge then they could not |
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Sam.sp
Starting Member
8 Posts |
Posted - 17 July 2012 : 18:18:57
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sorry whats BI?
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debtinfo
forum expert
2826 Posts |
Posted - 17 July 2012 : 18:19:09
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| but if you were only awarded back the stuff she had already bought out of the BR then i do believe those would not be taken as those assets have already been dealt with |
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Sam.sp
Starting Member
8 Posts |
Posted - 17 July 2012 : 18:21:15
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The financial settlement hasnt been agreed yet,and im a year after discharge of bankruptsy and like i say im wary about trying to go for too much if the OR can then step in an reclaim it
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Sam.sp
Starting Member
8 Posts |
Posted - 17 July 2012 : 18:23:22
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thanks debt info, SO therefore am i correct in saying that even tho they were origianlly in the bankruptcy estate, because she paid off the recievers if i got them back in the financial settlements would they be classed as new assests for me?
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debtinfo
forum expert
2826 Posts |
Posted - 17 July 2012 : 18:25:34
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| Yes, if she has formerly bought back the interest from the receiver then you are free to receive any new assets without fear of them being taken |
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Sam.sp
Starting Member
8 Posts |
Posted - 17 July 2012 : 18:27:45
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even if they were properties that were involoved in the bankruptcy?? thanks for your help
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Sam.sp
Starting Member
8 Posts |
Posted - 17 July 2012 : 18:50:39
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thanks for all your help. im now more clearer and hopefully i can get back some of what i have spent my life working for!!!
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year 2029
Average Member
590 Posts |
Posted - 17 July 2012 : 20:40:51
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Hi Sam,
BI = Beneficial interest, i.e the interest in the property that was purchased back for you.
From what you have said, and what others have replied to you, these proeprties were dealt with during bankruptcy and then removed from your estate. They should therefore be free for you to receive if you qualify through your matrimonial proceedings.
One question that needs answering though, is are you subject to an IPA/IPO? (Income payment agreement/order)
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Topic |
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I am not out of bankruptcy but I still have to get a financial settlement with ex wife.
