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bearsndogs
New Member
51 Posts |
 Posted - 21 May 2013 : 14:34:35
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Following sale of house earlier this year, hubby got his share and, so far as I was aware, once the Trustee got his share, everything was sorted.
However, I have now received a letter from the Trustee advising of a meeting with creditors some time in June and that it is not necessary for me to attend - this is not the confusing bit!
But, also enclosed with the letter is a Summary of Receipts and Payments made out of my share (Trustee's share) and this is where I AM confused. The list seems to consist of various fees including DTI fees, agents fees, legal fees, Trustee's fees and numerous other costs and payments, but nowhere does there appear to be any reference to what was owed to the creditors. Based on the information I have, does this mean that the creditors get nothing after all? If that's the case, what was the point of the bankruptcy in the first place? If the Trustees considered there was insufficient equity out of my share of the sale of the property, why did I have to sell the property? It seems to me that the whole thing was just an exercise by OR/Trustees to get as much money out of me, create as much stress as possible and to ensure that I no longer actually have any assets!!
I do remember receiving correspondence from the Trustee's office about a year after the BO was made listing all the creditors and their assets, together with all the costs involved and it seemed then that the costs far outweighed what was owed and when I questioned this, I was told that the creditors would receive whatever was left from the sale, even if they had to receive less than was owed. However, it looks as if only the Trustee's various costs, agents' fees and legal fees have been met.
Is this the norm and could the creditors still try to come after me for payment?
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 21 May 2013 : 15:10:36
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No, the creditors can not chase you for any money.....ever.
Unfortunately, the trustee will take fees first, so the creditors may not get anything.
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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I'm a bit confused!
