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gwen.o
Junior Member
183 Posts |
 Posted - 18 October 2008 : 17:58:51
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| I am seriously considering filing for bankruptcy but can it be refused and what happens if it is? |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 18 October 2008 : 18:02:41
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Hi Gwen
Yes bankruptcy can be refused usually if your not insolvent as in a case where you have enough say equity in your home to pay of your debts or if your debts are due to crinimal activity for example.
We dont hear much indeed hardly anything about people who have been refused, it would be a very rare thing that someone would be.
A judge looks at your case and make therr mind up, if your outgoings out weigh your incomings then yes you are insolvent, unable to service your debts and so BR should be allowed.
Hope that makes sense.:-)
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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gwen.o
Junior Member
183 Posts |
Posted - 19 October 2008 : 09:33:08
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Hi Jo
Thanks for your reply. I am definitely insolvent.
I posted another question yesterday, for the attention of Melanie Jenkins. I was told she was one of the forum experts but perhaps you can answer for me. I keep asking this question but so far have not got an answer. (I'd be grateful if anyone can answer this question).
Can my partner be held responsible for my debts? We have lived together for 14 years. For the last 10 years we lived in our current house. The value has increased by about £200,000 in that time and the equity in it is about £170,000. However, I don't pay anything towards the mortgage but I do give my parter £100 every month towards food and running costs. I have been told that my £100 contribution means that I have a stake in the property and that he can be made to pay about £10,000 towards my debts.
My partner has no debts, he doesn't believe in credit.
When he found out about my debts he gave me money each month to pay them off but that money didn't come anywhere near what I owed and only helped me keep my head above water.
About 3 months ago he found that I was still heavily in debt (approx £46,000) and hit the roof. He has since then, however, paid £4,500 to clear my Next and Debenhams cards. In total I think he has probably given me about £15,000 over the last two years. He said I had to sort myself out and that is when I contacted cccs and have now started a debt management plan but creditors keep ringing me and writing to me, especially the Halifax who are really obnoxious. So I think bankruptcy would be best but I don't want my partner to have to pay anything towards my debts. Well, he wouldn't. I think he'd rather I move out than be involved in my mess and I can't blame him. All my debts were incurred without his knowledge. He said he "thought I had loads of money". Well I did, but it from loans and credit cards !!!
So,after rambling (apologies), my question is. Can the OR force him to pay some or all of my debts?
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 19 October 2008 : 09:44:30
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Hi Gwen
I think really that you do need to speak to someone as its a bit more complex, the expert you were talking about is Melanie Giles but she can be contacted via our IVA sister site or you could give us a call.
Our number is 0800 078 9367.
I dont want to try and answer this part of your question as its a little bit out of my knowledge depth and for me to start placing ideas on here could have the wrong effect so i would def give us a call tomorrow or contact Melanie Giles via Suzanne our other expert who would be able to get you the proper advice, there is a list of experts on the side here, open it and look for Suzanne there you will find a website to contact them, if you want to speak to either of them they are at the Cardiff office.
Best of luck
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 20 October 2008 : 11:39:40
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Hi
I don't think you will have accrued a beneficial interest in the property if you have only paid £100 per month towards food and bills, as effectively you are just a lodger in your partners property. You would have to have been making contributions to the upkeep and mortgage on the property for a claim to be successful, and that would not be the case if you can prove you only paid £100 per month.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 20 October 2008 : 11:44:40
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I have lived with my partner since 4th July and pay half of mortgage and bills. Would I be seen as having accrued a beneficial interest at some point during my IPA? My OR never mentioned this at interview stage.
Maizie |
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Almost there
Junior Member
United Kingdom
288 Posts |
Posted - 20 October 2008 : 12:28:16
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| I have lived in my house for 12 years, my partner died and in his Will it states that I can live in the house for as long as I wish, or until I remarry, providing I pay all bills and the outstanding balance on the mortgage which is £15,000 and £82.00 per month (a kind of rent). It then goes on to say that when I give up the house it will be sold and the proceeds are to be split between his 5 grandchildren. I have not been lead to believe that I have any beneficial interest in the property but am a little concerned. Have not gone BR yet. His 2 adult children are the Trustees and very heavily protective of the property. They pay the buildings insurance. |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 20 October 2008 : 13:11:15
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Maizie
You have nothing to be concerned about. You have not been in the property a sufficient amount of time for the OR to claim a beneficial interest.
veryworried
You are only in effect paying rent to stay in the property, it just so happens to be going towards paying the mortgage. The house has clearly not been left to you in your partners will, and the will clearly states on what basis you can remain there. The OR will have no claim for a beneficial interest in the property on this basis.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 20 October 2008 : 13:33:20
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Thanks Suzanne.
I have an IPA for three years, can they request this at the end of the 3 years or do they have a certain amount of time to deal with this?
Maizie |
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Almost there
Junior Member
United Kingdom
288 Posts |
Posted - 20 October 2008 : 13:54:18
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| Thanks Suzanne, that's one worry off the list!! |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 20 October 2008 : 15:17:21
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Hi Maizie
Potentially they have 3 years to realise an asset in property, but you have to have had the asset prior to bankruptcy. Any assets acquired after bankruptcy but prior to discharge are after aquired property, and as at the date of the order you had no assets, there would be no further action taken.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 20 October 2008 : 15:26:29
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Thats a relief. Thanks Suzanne, I can rest easy now!
Maizie |
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gwen.o
Junior Member
183 Posts |
Posted - 21 October 2008 : 07:45:24
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Hi Suzanne
Thanks for your advice. It's a relief to finally have an answer. I have been worried about this for so long but I feel I can file for bankruptcy now and hopefully get my life back.
Thanks again.
Gwen. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 22 October 2008 : 12:11:36
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Best of luck Gwen!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
Edited by - JulianDonnelly on 22 October 2008 15:06:24 |
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gwen.o
Junior Member
183 Posts |
Posted - 22 October 2008 : 14:48:37
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Thanks Julian.
One question I forgot to ask earlier. Where on the Internet do I find Bankruptcy papers?
Lots of people on the forum seem to have filled them in on-line but I haven't a clue where to look for them, and I want to make sure they are the right ones.
Thanks. |
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Jo.
New Member
76 Posts |
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Topic |
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Can bankruptcy be refused?
