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indy2005
Junior Member
458 Posts |
 Posted - 19 May 2009 : 19:00:56
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Hi,
2 years before I went BR I took out 65K of equity to pay my debts.
2 months before I went BR, I transferred the house to my wife when we re mortgaged, and had a declaration of trust drawn up to state that I had withdrawn my share of the house.
I am now discharged. There was no discussion about what my beneficial interest is (I pay half the mortgage - but am not listed on it), there was no charging order on the property against my wife.
Is it all over now I am discharged. Trying to make sense of
http://www.insolvency.gov.uk/freedomofi ... .htm#33.48
I am nervous about this 3 year rule I read about.
thanks
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Edited by - indy2005 on 19 May 2009 22:22:26 |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 20 May 2009 : 13:40:07
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Hi indy
Have you ever been notified of a Trustee being appointed?
The 3 year rule can still apply if the OR/Trustee thinks you have a beneficial interest regardless of whether you are discharged or not.
You or your wife would normally have been notified by now if the believe there is a beneficial interest in the property, however, if it happened that the 65K you took out wiped out your half of the equity then they have probably just let it go.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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indy2005
Junior Member
458 Posts |
Posted - 20 May 2009 : 18:29:05
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Hi,
No it has recently been passed straight to RTLU.
I made the big mistake of asking my case officer about assets and next steps. She mentioned the shares being liquidated, and the IPA, but not the house. Stupidly, I asked about the house as I had heard nothing about it (and wanted closure), and she said now that I had brought it to her attention, she was going to examine it.
My question is (1) was I stupid to ask (I just want to know its over, I want them to say "we looked into it and there is nothing of interest"), and (2) what can they do? The house is transferred into my wifes name, I have taken my equity out to pay debts, the house value has dropped since I went BR (although my wife still has equity in it). I have been paying half towards all bills though.
i
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indy2005
Junior Member
458 Posts |
Posted - 20 May 2009 : 18:35:35
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...Surely if this has been via an examiner, who hasnt thought there was any beneficial interest, and now I am discharged, they wont start pursuing it just because I put my foot in it and mentioned it.
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Edited by - indy2005 on 20 May 2009 18:35:56 |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 21 May 2009 : 09:30:07
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Hi Indy
I answered this on another thread. But basically I would argue that you have already taken your equity out.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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Is it all over?
