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Trolly-Dolly
Average Member
591 Posts |
 Posted - 02 September 2008 : 12:08:35
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Hello All,
I know it may sound self explanatory but please anyone, what d you make of this.
Recieved big letter from OR today and he says that he doesnt wish to interview us at this is time. Loads of leaflets but just have to send back Data Protection and HMRC release forms. No mention of statements, car, home.
Our case is very staightforward, is this why?
Have you heard of this before? If so, do they usually end up with an interview?
All in a pickle. Does this mean good news? Can I go back to work with fewer worries?
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 12:12:14
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Hi TD,
It is highly irregular but not unexpected. Given how busy the Insolvency Service is, they have (more than likely) deemend your case as low-priority. Don't worry, they'll get back to you soon enough.
The good news is that if you had anything to worry about, they'd have got you in for an appointment in short-order!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Trolly-Dolly
Average Member
591 Posts |
Posted - 02 September 2008 : 12:19:47
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Thanks Julian,
Is it possible that we may not buy the BI and that our home would just be classed as of no interest?
Does that make sense?
Heart pounding, but in a good way.
Have you ever heard of anyone never having an interview before discharge?
I went BR with debts of £12,339.
Sorry for so many questions. Typical TD!
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 12:28:53
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HI TD,
The BI will need to be dealt with, but if your BI is NIL, then it's just a case of £1 + costs.
You will (more than likely) get at least a telephone interview before your discharge.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 02 September 2008 : 13:06:58
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Hey TD
Nice to see you back. Its tom you start your course i beleive, that will help you to take your mind off of this.
From what Julian has said in a way thats good news, just get on with your normal life, if there is such and thing and if they want you they know where you are.
Take care and ........
Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Trolly-Dolly
Average Member
591 Posts |
Posted - 02 September 2008 : 13:15:32
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Thanks Jo, I am feeling better, at least knowing that we are low priority. Phew!
Have just read up on buying the BI, it will have to wait as we are sooooo skint! Hope the housing market doesnt pick up in the next few months! lol, just kidding.
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 13:16:47
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Hi TD,
If it makes you feel any better, it is unlikely to show any significant signs of improvement for at least another 18 months.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Trolly-Dolly
Average Member
591 Posts |
Posted - 02 September 2008 : 13:23:38
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That does make me feel better as I gather my trustee holds onto it for 3 years, so at least I have time to save.
Can it then be transferred back to me? When does this happen, I'm confused! Doesnt take much.
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 13:25:58
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Hi TD,
Has a Trustee been appointed? This normally happens if your assets exceed £10k. If not, interest will remain vested with the OR. As soon as you've completed the purchase of your BI for £211, thats the property dealt with.
You can actually buy your own BI. If a 3rd party buys it, you can buy it back once you've been discharged.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 02 September 2008 : 13:30:05
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Hi Julian
As with our case its going over to a trustee as we have about 15K and we wont be buying the BI, well not for the foreseeable future as i dont want my parents having to cough up, then we default then we will end up back to square one, so i assume that for us its a waiting game.
Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Trolly-Dolly
Average Member
591 Posts |
Posted - 02 September 2008 : 13:33:01
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Sorry I meant OR (they keep mentioning trustees in the letter though).
That makes me feel heaps better. I'll write to the OR soon and ask to buy BI. I'm sure that they will point me in the right direction with regards to what forms etc. At least I can buy it back too.
Think thats me done for the day!
What a stress bucket I am.
Thanks so much. Things clearer now.
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 02 September 2008 : 13:34:27
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Hey TD
You know where we are. :)
Just take it bit by bit and daya by day and it will all fall into place.
Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 13:37:42
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Hi Mark,
Assets will include your share of the equity as well as vehicles etc.
The best thing to do is get a new (surveyor's) valuation and a redemption figure (not balance) from the mortgage company. You may well find with thiose two pieces of information that your BI is close to NIL.
Given the state of the housing market, it is likely you'll have the time you need to sort this out as a forced sale would achieve nothing.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 13:41:41
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Hi Mark,
Depends very much on the OR's discretion. If you present them first off with a redemption figure, then they usually accept it without question.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 14:15:46
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Hi Mark,
They all work to the same guidellines. The issue is that everyone seems to interpret these guidelines differently!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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zoe
Junior Member
329 Posts |
Posted - 02 September 2008 : 14:34:25
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Hi there
The OR DOES NOT take early repayment into account when calculating beneficial interest in a property no matter how long you have left on it! |
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Topic |
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Help! What does this mean?
