I was made bankrupty by the Inland Revenue in 2005 for the sum of 1950 pounds having paid an outstanding tax bill of 62000 pounds they said the 1950 was interest which I didnt have so they made me bankrupt .eventualy my home was sold to repay the debts which were credit cards and a small overdraft to my bank which i was paying of regularly before the tax man got involved so the outstanding debts were passed to the insovence practioner and after the alloted 3 years my home was sold and my part of the equity was 30000 pounds .Now I realise that the practioner has to be paid but from a debt of 10000 pounds he has paid himself 20000 pounds .This doesnt seem right to me . can someone out there give me some guidence on this
I believe that you can try and get some of your money back from them but they usually have such high fees that i doubt now that there would be anything left for you to claim.
I would give our guys a call on Monday and let them guide you through it if you want to try and pursue this matter but i think now that money may have been eaten up by the firm that was instigated to sort out the debt.
I'm afraid you have no recourse in this matter. Private sector trustees are able to charge whatever they wish and a £20K charge for overseeing what was a £10K debt, repaid in full, is commonplace.
The hard fact is that had the sale of the property raised £50K then the charge would probably have been £40K, this being the balance sum after your creditors were repaid in full.If you've got it, they want it. It's tantamount to highway robbery but perfectly legal I'm afraid.
The irony here is that,you have repaid all of your creditors in full. If the trustee would confirm in writing that they have received payment in full, you could now, if you wish, have your bankruptcy annulled.
can someone out there give me some guidence
Posted - 25 October 2008 : 10:12:25
