HOME  FORUM  MEDIA  EVENTS  ARTICLES  TV  BLOGS
•Home
Bankruptcy:
•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating

Forum:
•forum
•register
•search
•faq
•experts

Blogs:
•Bankruptcy News
•More...

Media Room:
•Press releases
•Media Coverage

Other:
•About BankruptcyHelp
•Links
•Contact us
•Debt Glossary
•Insolvency jobs


FORUM
  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post
Ask a debt question
See the last 250 posts
Watch video on how to use forum
Username:
Password:

Save Password
Forgot your Password?

 All Forums
 archive
 Forum Questions
 I own a buy to let property which has 65k equity
 New Topic  Reply to Topic
 Printer Friendly
Author Previous Topic Topic Next Topic  

moiz.bi
Starting Member



2 Posts

Posted - 18 December 2009 :  16:40:03  Show Profile  Visit moiz.bi's Homepage  Reply with Quote
I own a buy to let property which has 65k equity but is in a company name whose shares are owned by me, and I also have a charge over a property owned by my brother which is worth about 70k, now I am being persued for BR by one of my creditors for £3200, any idea how OR will treat the matter, will they kick out my brother to realise the charge etc.

RHB
Senior Member

1159 Posts

Posted - 18 December 2009 :  16:47:24  Show Profile  Reply with Quote
Can't you pay the debt & avoid bankruptcy because it looks as though you have a lot to lose!?
Go to Top of Page

Reviva UK
Advanced Member

United Kingdom
2452 Posts

Posted - 18 December 2009 :  16:52:23  Show Profile  Reply with Quote
Hi

have you been served with a Statutory Demand yet?

You clearly have a lot to loose and the details re the house with your father / brother will need more information regarding their position , however it is likely that if made Br the house would be sold to pay upir debts from your share of equity.

You need professional advice and a plan to steer yourself through the situation - keeping the creditors happy but not loosing all of your assets.



Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com

Real People ..... Real Debt Solutions
Go to Top of Page

Housing
Senior Member



United Kingdom
1399 Posts

Posted - 19 December 2009 :  13:33:00  Show Profile  Reply with Quote
Hi,

I missed this posting the other day.

I think you are best advised to see a financial expert as soon as you can.

There are some good ones that post on this site and one of them has already replied.

Clearly, you have a lot at stake and I would imagine, with the correct planning and advice you could avoid BR and losing all as a result.

If you have already been served with a statutory demand by one of your creditors, the time is already ticking - you have only 21 days to put in an objection to the county court seeking the matter to be set aside. If your creditor knows what they are doing, then there may not be any reasons for the matter to be set aside.

I wish you luck and would be happy to give any advice within my remit, but really it is someone like Paul (already posted) or Melanie from Jones Giles.

Richard

"There are no problems - only solutions..."
Go to Top of Page
  Previous Topic Topic Next Topic  

 New Topic  Reply to Topic
 Printer Friendly
Jump To:
bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06