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Richard.sdb
Starting Member
4 Posts |
 Posted - 01 October 2009 : 15:38:17
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| I am considering bankruptcy and currently reside with my parents and so would be giving there address, how does this effect them as owners of the property, are contacted by anyone from the court, in fact do they need to find out? |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 02 October 2009 : 10:24:09
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Your bankruptcy will not affect your parents nor their house. However it is likely that the OR will write to them in order to confirm that the house does not belong to you. I also think tht it is a dangerous game if they do not know of your bankruptcy as you may get letters, telephone calls etc from the OR. I would inform them and, you never know, they might be very supportive.
All the best.
John Blackadder
**Link removed** |
Edited by - Skippy on 04 October 2009 10:32:03 |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 02 October 2009 : 10:48:32
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Richard,
I totally agree with Blackie.
I am 57 and went BR in May - I had had a successful business for years and was seen to be just that to one and all.
In the event, I was in too much debt, so NOT so successful in the last couple of years!!
I did not want people to know either! Cutting a long story short - I did tell all and was pleasantly surprised by the support of my mother in law!!
Do not try to hide it - there is no shame in being BR - good luck, Richard
"There are no problems - only solutions..." |
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Richard.sdb
Starting Member
4 Posts |
Posted - 02 October 2009 : 10:55:01
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Thanks Blackie, thanks Housing. I will certainly take your advice. I just didn't want to affect their credit rating at all. One other question, how long after the bankruptcy is discharged will I be likely to be able to jointly apply for things like mortgages at a sensible rate? Cheers RICHARD
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 02 October 2009 : 10:57:36
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You should write to the credit reference agencies with a letter of disassociation.
Basically separating you and your affairs from your parents. This will ensure it doesn't effect their credit history.
The OR won't write to your parents to confirm taht you don't own the house - instead they automatically check with Land Registry.
If however you are paying your parents anything towards accomodation you are technically a tennent and the OR will probably write to confirm the amount and whether you have an assured shorthold tennancy agreement.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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Richard.sdb
Starting Member
4 Posts |
Posted - 06 October 2009 : 07:58:54
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Thanks for a very clear and precise explanation. One last question, i have one creditor who has gone as far as putting a CCJ against me, i have been paying a small amount each month for 1-2 years, does this get included by the OR and written off?
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 06 October 2009 : 08:28:55
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Hi
there is a section on the SOA that you need to list court action / CCJ's.
at the point of bankruptcy all debts ( excluding magistrate court fines, csa debts, proper student loans& secured debts ) are cleared
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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Richard.sdb
Starting Member
4 Posts |
Posted - 16 October 2009 : 14:12:59
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Thanks. I am currently unemployed and am claiming jobseekers allowance, am i correct in thinking that I may be able to receive help with the fees for filing as bankrupt, if so how do I go about finding out more?
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Topic |
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I am considering bankruptcy
