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 Help needed. Made bankrupt 2013.
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Starting Member

1 Posts

Posted - 09 August 2016 :  13:57:42  Show Profile  Visit Lynnd0124's Homepage  Reply with Quote
HELP Needed Made bankrupt 2013 for £6,000 forced sale of house for £134,000 mortgage owed £55,000 other debtors came along in total creditors claims £19,584, plenty of money in sale of property to cover creditors, now they want £24,000 for fees etc(no idea) forcing me to sell my home to pay them. THIS HAS BEEN GOING ON FOR 3 YEARS, it seems they have dragged this on to gain extra fees etc i cant find a way out. It seems as though they have had over £60,000 in fees costs etc


United Kingdom
4590 Posts

Posted - 10 August 2016 :  08:27:22  Show Profile  Reply with Quote
Hi and welcome,

If you were made bankrupt then all of your debts would have been written off although you would probably have had an Income Payments agreement.

Who was it that made you bankrupt? I assume you saw the Official Receiver?

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant

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Lisa Thomas
forum expert

United Kingdom
35 Posts

Posted - 10 August 2016 :  09:10:17  Show Profile  Visit Lisa Thomas's Homepage  Reply with Quote

In Bankruptcy all of your assets will be required to be realised in order to pay towards the total debt, plus statutory interest, plus Bankruptcy taxes plus costs.

As you have seen this is not a small sum.

Your creditors alone were at least £26k and then there will be statutory interest calculated at 8% per year from the date of the Bankruptcy Order, together with very high taxes. If a creditor made you Bankrupt their petition costs have to be paid which are usually at least c£2k. Then the Official Receiver has to be paid. Then if a private IP was appointed as Trustee s/he has to be paid together with their legal costs and other outlays.

Did you not take advice on this before you went Bankrupt?

Do you own the property solely or jointly with another party?

Have they sent you a breakdown of the £60k you have quoted? I'd be happy to take a look at the figures/paperwork and give you further advice - feel free to contact me.

Contact me on 01752 786800 or Lisa@nevilleco.co.uk

Edited by - Lisa Thomas on 10 August 2016 09:10:48
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