?re the process. I now understand that at the end of discharge or just before the OR writes to creditors to see if they object. Do they tell them that you have no money and at that point are the debts "written off " or has that happened before -- eg during the 12 mths BR. Obviously the creditors are still being paid a little in the IPA. I have been informed by OR not to worry about neg equity and shortfall as this has been added to my creditor list but I am unsure at what point is it really over. Can creditors come back in the future for the debt,is it always there? I had a major debt with Nat West and just before I went BR they were applying to court for a charging order.Some months later got a letter from Court saying it had been ???? OR said not to worry it looked as if it was now finished with Yesterday I received a bog standard statement from Nat west re the loan also showing a payment of 97 pounds ---from where and when I know not. (My IPA is 108 for about 8 creditors) I am now worried that this BR is not the end I thought that it was
You are discharged from your bankruptcy debts when you are discharged from bankruptcy. If you get an early discharge it happens then. You will still be responsible for paying an IPA if applied for the remaining term of the IPA unless your circumstances change for the worse and you are no longer able to pay.
If you want to keep the house you should get a copy of the land reg to make sure Nat West didn't get a charging order, and if it post dates the bankruptcy you can send a copy of your order to the land registry and ask them to remove it. If you are not keeping the house, then don't worry about it, it will all be dealt with in the bankruptcy.
Your creditors cannot come back after bankruptcy and ask for money unless it is for debts incurred after the bankruptcy.
Suzanne, Thanks for this but I still have a lot of unanswered questions ie why have I received a statement from nat west loan. Is this just because someone has pressed a button. I prob need to contact OR re this. I suppose this is about trying to be a little in or regaining control
Thanks Kallis, Interesting, I'll have to wait and see if others send statements. Nat West was the largest single creditor. Do they conintue to send statements after discharge or until IPA is finished. At what point is the debt ended/written off etc or does this never happen. I am worried that if statements continue to be sent and the debt is still "live" --then can they re chase it again. I always thought that one of the results from BR was that the debt ended or was written off. Someone else told me "you'll always owe the money"
Discharge, the end or not? The process
Posted - 04 August 2009 : 07:52:58
