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m88
Junior Member
159 Posts |
 Posted - 26 December 2009 : 08:59:38
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| can your case be passed to RTLU if you have no assets |
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debtinfo
forum expert
2826 Posts |
Posted - 26 December 2009 : 09:42:07
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| no, dont be confused though some people have assets that are not worth anything, such aa a property in negative equity, which will go to RTLU to be dealt with, but if you have no assets at all tou should stay with the OR |
Edited by - debtinfo on 26 December 2009 09:42:48 |
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m88
Junior Member
159 Posts |
Posted - 26 December 2009 : 10:14:34
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my only asset was my house which i sold and gave equity to v.a.t man ,could it be passed over if OR is just to busy
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 26 December 2009 : 10:30:21
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Your case will also be passed to the RTLU if you are paying into an IPA.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
29 IPA payments made, 7 to go - in single figures! |
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m88
Junior Member
159 Posts |
Posted - 26 December 2009 : 10:33:48
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no IPA at moment
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debtinfo
forum expert
2826 Posts |
Posted - 26 December 2009 : 12:29:57
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quote:
Originally posted by m88
my only asset was my house which i sold and gave equity to v.a.t man ,could it be passed over if OR is just to busy
It shouldnt be, but i suppose it is possible at the moment, there is nothing legally to stop it as it is all the insolvency service |
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m88
Junior Member
159 Posts |
Posted - 26 December 2009 : 12:34:42
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cheers
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John
New Member
United Kingdom
73 Posts |
Posted - 26 December 2009 : 13:56:32
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Hi
it may depend on the sum of money realised by the property sale and the sum paid in VAT. Other factors may include the total number of creditors involved as this will impact on the amount of administrative work needed to resolve the preferred payment.
It's not beyond the realms of possibility, although perhaps unlikely, that a private sector trustee could be appointed if the sum involved is large enough.
Whosoever deals with this issue should make no difference to you personally as the monies realised is, of course, part of your estate and thus lost in bankruptcy.
John White
Independent Debt Consultant
Specialising in Bankruptcy |
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m88
Junior Member
159 Posts |
Posted - 26 December 2009 : 14:00:29
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got £20000 agreed to pay v.at.man all money to clear v.at and N.I around a year before BR.
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Edited by - m88 on 26 December 2009 14:02:15 |
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John
New Member
United Kingdom
73 Posts |
Posted - 26 December 2009 : 15:34:47
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Hi
my guess is the OR will deal with it as
a) the preferred payee will not put up too much of a fight to retain the £20
b) the reclaimed sum will ensure the OR covers all costs relating to your case prior to dispersal of the balance as part of your estate.
However, yet another factor will be the workload of the particular OR's office at this time.
John White
Independent Debt Consultant
Specialising in Bankruptcy |
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m88
Junior Member
159 Posts |
Posted - 26 December 2009 : 15:39:39
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told OR all about it ,got letter about poss ED,case now with RTLU, are they likely to look into it (sale aug2008)BR aug 2009
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John
New Member
United Kingdom
73 Posts |
Posted - 26 December 2009 : 15:46:40
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Hi
Oh is see, well if already with RTLU the they will likely deal with it, if they don't then they are clearly failing in their duty to ensure ALL creditors are in receipt of the correct pro rata payment from your estate.
Although perfectly innocently carried out at the time, the fact that the VAT payment was made within 2 years of the date of bankruptcy makes it a preferred payment which should be reclaimed and dispersed pro rata.
John White
Independent Debt Consultant
Specialising in Bankruptcy |
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m88
Junior Member
159 Posts |
Posted - 26 December 2009 : 15:49:42
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will they deal directly with vatman ,or will i be involved ,and will this effect chance of ED or length before poss ED is given,
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Edited by - m88 on 26 December 2009 16:06:40 |
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m88
Junior Member
159 Posts |
Posted - 26 December 2009 : 16:27:59
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and thanks john for your time
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debtinfo
forum expert
2826 Posts |
Posted - 26 December 2009 : 20:45:52
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| They will not reclaim the money as as a preference only applies for 6 months prior to the bankruptcy for a non associate, not 2 years |
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John
New Member
United Kingdom
73 Posts |
Posted - 26 December 2009 : 22:11:41
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Hi m88
debtinfo makes a valid point.
As the preferential payment was made to a non associate it is not likely to be investigated as a 6 month time limit immediately prior to bankruptcy applies whereas a the time limit is 2 years if the alleged preferred payment is made to an associate.
That said, I'm not sure the differentiation should apply.
Additionally there is case precedent to suggest that where the recipient is an associate the onus is on the trustee to prove the recipient was aware of the potential bankruptcy of the payee for the payment to be deemed by the court as preferential.
John White
Independent Debt Consultant
Specialising in Bankruptcy |
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Topic |
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can your case be passed to RTLU
