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dianeb
Starting Member
12 Posts |
 Posted - 22 March 2009 : 14:52:47
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thankyou so much john you have been extremely helpful and gave me more confidence than i had to start with on this matter.
i will of course let you know what happens tommorow so other readers gain information from it which may be helpful to them.
once again thankyou,you are worth your weight in gold.
regards
diane
xx
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dianeb
Starting Member
12 Posts |
Posted - 23 March 2009 : 22:10:59
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hi john,
the outcome of the hearing today was that if i allow a charging order on my property with payments of £388.00 per month which would clear the debt in 18 months,then no bankruptcy judgement will be made.the case was adjournment for 6 weeks for me to more or less agree to this and seek legal advice.
came out of court feeling like id been kicked in the teeth as the judge was not at all sympathetic and was not interested very much in my side of the case,i got the feeling that she was basically there to either stamp the petition or not regardless of what i had to say and that she was very much on the side of the claimant.
i guess now i need to decide wether to allow this charging order etc to go ahead and put an end to the matter in 18 months. dont have much of an option really unless i want the debt to be higher!
thanks for your help and support it was very much appreciated.
regards
diane
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John
New Member
United Kingdom
73 Posts |
Posted - 23 March 2009 : 22:34:53
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Hi diane
have been eagerly awaiting your post and checking the forum every half hour or so.
Firstly I am pleased to read that the bankruptcy application was effectively denied as it's a tough pill to swallow for the level of debt involved.
It's my opinion that it may be difficult to argue that your interest in the property is less than the sum of the payments. Therefore bankruptcy, if you include trustee fees, would have worked out more expensive in the long run and if you could not find the funds the home was at risk which from the start, I know, has been your main cause of concern.
On balance if you can manage the payments this may well be the best of a not so nice set of options.
It will be difficult at first but once you're into it the 18 months will fly by.
I do help all goes well from here on diane and wish you and yours all the very best.
John White
England Jackman & Spacey |
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dianeb
Starting Member
12 Posts |
Posted - 24 March 2009 : 12:06:50
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thanks john,
my main concern now is getting the legal charge on the property in the 6 weeks before it goes back to court,otherwise it will result in bankruptcy and losing the house.
we have been advised to get legal assistance from a solicitor so the battle isnt over just yet. ill obviously post more as things happen.
regards
diane
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Topic |
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am i likely to lose my home?
