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potless
Starting Member
46 Posts |
 Posted - 15 October 2012 : 08:19:19
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| Hi there, Hoping you can offer advice please. A close friend of mine was declared BR in July this year. He had his call from the OR and was told everything seems fine, the only concern was a court order which was placed on the property (this was from a messy divorce where the court granted the ex partener 50% of any profit from the sale of the property). There is no equity in the property but he was hoping to stay in the house and can manage to pay the mortgage, on an interest only basis. He has now been contacted by someone who has been appointed the Trustee and they want to go over everything again? He has nothing to hide but cannot understand why he has to go through it all again as he has no assets. Any advice would be appreciated. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 15 October 2012 : 08:49:41
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Hi,
I've no idea on this one, hopefully one of the experts will be along to help. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 15 October 2012 : 12:33:01
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Hi potless,
If he owns the property then this is an asset, but if there is no equity then he will be able to buy back the beneficial interest.
They, perhaps, want to clarify the court order, but if the court granted this then there should be no problems.
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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A close friend cannot understand why Trustee wants to go through everything once again
