Hi, could you please give me some concrete information on these few questions I have, I have spoken to many companies, Solicitors and my mortgage lender and I get conflicting information... 1) What will happen to my CCJ's? 2) What will happen to my home? My mortgage lender states they do have bankrupts as customers? 3)what will happen to charging orders on my property? 4)Regarding debts that are being chased by high court inforcement officers, will threats and action stop? 5)on your website it states that if i went bankrupt i would be expected to make monthly payments to the court? what does this mean? Thank you
Your CCJ's will be included in the bankruptcy - you must maintain any pre agreed payments up to the making of thebankruptcy order though
Your home situation depends on your equity situation and i would need more info before commiting to an exact response, if however your home was in negative/no equity, provided you maintain your mortgage payments you would be able to remain in your home (full adivce given if your do provide more details though)
Charging orders will remian on the property and have to be paid they are treated no different to your mortgage as they are 'secured' on your property and can only be removed on full payment prior to or sale of your property
All unsecured debts in your name are included in the bankruptcy and therefore action cannot be taken against you for them once the bankruptcy order had been made - unsecured creditors cannot stand outside the bankruptcy
If it is deemed by the OR that you have a 'disposible income' in excess of £99 you will be required to make monthly payments called an Income Payment Order/Income Payment Agreement IPO/IPA for a period of 36 months, depending of the level of excess income the OR can claim between 50 & 70% via an IPO/IPA
Hope this answers your queries and i will be happy to give more information on your property situation if required, but will need more information before i can do this.
I have also responded to your other thread also
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
could you please give me some concrete information
Posted - 20 May 2009 : 19:57:30
