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indy2005
Junior Member
458 Posts |
 Posted - 30 January 2009 : 19:04:30
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Hi,
9 months into BR, gone to RTLU but not heard anything yet. In my BRU interview today, I asked about the house process and he said that the creditors obviously didnt see anything worth pursuing but the RTLU may well take a different view. I asked what the process would be and he said because the house was in my wifes name, they couldnt seize it during BR, but could place a charge on it...and then after discharge it would be as simple as being served an eviction notice.
This has me worried. No negotiation, no offer to buy BI...just an eviction notice. We haven't had a charge on the property...but anything could happen in the next few months. But is this the process...wake up one day, and eviction notice?
I took out my equity 3 years ago to pay my debts, and transferred the house to my wife (it was joint owned) ...and had a declaration of trust drawn up to recognise that I had taken my share of the asset to pay my debts (equity of exoneration).
Regards
i |
Edited by - indy2005 on 30 January 2009 19:06:06 |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 30 January 2009 : 19:30:46
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Hi
If the paper trail is complete and accurate - and the OR doesn't believe that you were attempting to put the asset out of reach of insolvency proceedings by the transfer - you should be fine.
The RTLU will probably review the situation, the claim they may have on the property and hopefully confirm the position.
There is nothing wrong with arguing and holding your ground if you have the documentation to back it up.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
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indy2005
Junior Member
458 Posts |
Posted - 30 January 2009 : 19:34:34
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quote:
Originally posted by Reviva UK
Hi
If the paper trail is complete and accurate - and the OR doesn't believe that you were attempting to put the asset out of reach of insolvency proceedings by the transfer - you should be fine.
The RTLU will probably review the situation, the claim they may have on the property and hopefully confirm the position.
There is nothing wrong with arguing and holding your ground if you have the documentation to back it up.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com
Hi,
My worry is it sounded like I wouldn't even get an opportunity to argue the case. It sounded like the house would get a charging order if they felt it worth pursing, and after my discharge they could just seize it...no dialogue, no arguing.
I have given them a bank statement showing 65K in from re-mortgage and 65K out to my creditors in one month, and a declaration of trust to explain the transfer.
I got the impression today it was "its irrelevant, we can take it if we so desire...and if we do want to take it, it's as simple as receiving an eviction notice"....
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 30 January 2009 : 19:48:34
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Provided that the 65 k went to creditors and not family memebers then it should be fine.
you won't wake up one morning to be told to leave. They have heard of the daily mail too!!!!
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
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indy2005
Junior Member
458 Posts |
Posted - 30 January 2009 : 20:14:41
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quote:
Originally posted by Reviva UK
Provided that the 65 k went to creditors and not family memebers then it should be fine.
you won't wake up one morning to be told to leave. They have heard of the daily mail too!!!!
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com
Good..! Counting the days to discharge. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 30 January 2009 : 20:16:37
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Good luck indy, im 6 months in now so fingers crossed for you and me.
Jo x
26 weeks down 
Im Sooooo Happy 6 months gone
26 to go
Im Soooo Sad still 6 months to go |
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indy2005
Junior Member
458 Posts |
Posted - 30 January 2009 : 20:23:03
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My only concern is that during my interview today I was asked questions about what type of tenancy agreement I had. was it tennants in common and a few other things I haven't heard of. I said I didn't know and that was legal speak I wasn't familiar with. Were they trying to build a case to undermine the position on the house?
I said it was the type of agreement a married couple normally enter into when they buy a house? |
Edited by - indy2005 on 30 January 2009 20:23:49 |
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House - Process
