Thanks for reply I mean the fee's that the Trustee wants from you at the end of your year as a bankrupt. I didnt know about this as i have been ill advised through out.#
They want my share of the house if i dont get a third party then they will force me to sell. They want the 10000.00 from the debts and then the trustee fees are 17688.00. these are made up of official reciever 1012.00 legal costs of petition 1465.00 trustees renumeration 11500.00 trustees disbursments 850.00 trustees agent costs 40.00 insolvency account charge 101.00 other costs 250.00 + VAT Great isnt it you go bankrupt and then they want all this monoy it is really a contradiction of words! Hope this helps . and if you know of any way i can reduce this I would be very gratefull
Claire Did you declare BR or did a creditor do it for you.
Also like Jane has said is this not for information only, they should not be forcing you to pay that, the only things that they may ask for is the BI in your home, an IPA if one was in place and also the NT code IPA if it was done on time.
What exactly does this letter say to you?
Thanks again
Jo x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
22 Weeks down
30 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
Thanks for reply the letter states that as my trustee (Grant thornton) they want me to release the BI in my home to pay into my Bankrupt estate they have looked into my mortgage and seen that i have 25000.00 equity in my half and this is what they are after. If i cant get this from a third party then they will force the sale of my home to thier satisfaction (own price) and get the equity that way. I phoned grant thornton and asked why they wanted so much when the debt was 10000.00 my partner was willing to pay them this but we got an almighty shock when the acyual figure come in with the breakdown as above. Dont know where i stand do i just have to pay it all even though i am being made to pay more than i have ever owed in my whole life.
It sounds as though you have been made bankrupt and that you have a house.
If this is the case and there is equity in the property the Official Receiver ( or their agent in this case the trustee) will want all of your share in the property.
If the debt you were made bankrupt for is less than the equity in the property then they would only want the debt plus costs.
These fees cn he horendous soe you need to get advice and help.
I would suggest you speak to the helpline to go over the situation carefully.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
can i get trustee fees reduced i found a web site
Posted - 08 January 2009 : 17:12:18
