hi, i went bankrupt in April 2006 and i jointly owned a industrial unit that was rented out - mortgage free. The IP has claimed half of the rent during this time but has not taken any proactive steps to sell the unit. How long can this go on for??. The value of the unit has dropped significantly in this time and the IP fees and charges will continue to increase eating into any pay out for creditors. Ironically the same IP company were acting on my behalf in an IVA prior to the bankruptcy at which time they said in their report it would be extremely hard to realise any financial benefit from the unit and therefore should not be included in the IVA!!!!! Also in in Dec 2004 i repaid my mum £8000 that i had borrowed from her and at that time i was not insolvent nor had any intention of entering into an IVA or bankruptcy. The IP is now insisting she repays this sum as she is classed as a preferential creditor. How can this be as she was not priorortised at the time as i was not insolvent. Your thoughts would be much appreciated.
I don't know all the answers to your questions, but if you are bankrupt you should not now be dealing with an IP, but with the OR.
For you to go bankrupt then your IVA would have failed and you should have nothing to do with the IP anymore and you should not have any fees or charges from them.
I'm sure an expert will be along shortly to hopefully answer your questions more fully.
hi, i went bankrupt in April 2006
Posted - 08 March 2009 : 16:38:47
