bankruptcy

[spenttoomuchagain]

Hi
I am asking for some advice on behalf of my parents,
They had been running a business (partnership)for some 20 years or so when things started to get difficult, they sold the business to one of their creditors to pay him back the money they owed him. This was done approx 5 years ago. once the business was sold ,they also sold their house and moved abroad. Once the mortgages were paid and overdrafts paid off there was very little money for them to take with them.
my parents have now seperated and my mother has come back to the uk, As her husband dealt with the finacial side of the business she is unsure as to what money was still owed to who when they left. She does know there is still money owed to various people/companies.
She now wants to start a fresh and delcare herself bankrupt clearing up any loose ends.
The problem is we do not know how much money is owed or to who,
can anyone let me know how we can go about sorting this mess out.
We would like to get things moving as quick as possible because now my mother has an address in the uk she is starting to get letters from debt collectors, we do not want them knocking on the door if we can help it.
look forward to hearing from you
regards
carole

[yaffsimone1]

How do the DCA's know she has moved back into the country. Has she applied for credit etc since she has been back?

How long has it been since her moving away and coming back to the UK?

[sequenci]

i think the first step would be to obtain a copy of her credit reports and possibly check the register of court fines and judgments to ensure there is nothing on there.

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[spenttoomuchagain]

yaffsimone1
my mother has been claiming pension credits and has had to open a bank account, this is the only way i can think people have got hold of her address, she has not applied for any further credit.
she moved away in approx 2001 and came beginning of this year

[maximo81]

Originally Posted by spenttoomuchagain

yaffsimone1
my mother has been claiming pension credits and has had to open a bank account, this is the only way i can think people have got hold of her address, she has not applied for any further credit.
she moved away in approx 2001 and came beginning of this year

If the debts are that old they will be statute barred, so the companies wouldnt be able to enforce them.

[powelll]

Originally Posted by maximo81

If the debts are that old they will be statute barred, so the companies wouldnt be able to enforce them.

Unless any of them have got a CCJ in her absence as limitations rules wouldn't apply then. ( So Sequenci's advice re: getting copies of her credit ref. files is always a good idea )

Bearing in mind if she does definitely decide that bankruptcy is the best route then all creditors will be included whether she lists them on her Debtors Petition / Statement of Affairs or not.

She may want to speak to National Debtline for free confidential independent advice on 0808 808 4000 as well as they can advise on her circumstances as a whole & if she does want to go the bankruptcy route she may be able to get help with the fees - this is something they could check for her as well.

[Francesco]

Hi Powelll and others,

Forgive this quick intrusion
I have seen that reference to time limits not applying to CCJs elswhere on these forums.
Are you sure? I have never seen that position stated anywhere else, perhaps it's one of those things where everyone assumes - everyone else knows!
I cant understand why there would be an exception to the six year rule, excepting cases like Inland revenue/VAT where there is evidence of fraud.
If it is so, is it something to do with 'on behalf of the crown' ?

[sequenci]

Originally Posted by Francesco

Hi Powelll and others,

Forgive this quick intrusion
I have seen that reference to time limits not applying to CCJs elswhere on these forums.
Are you sure? I have never seen that position stated anywhere else, perhaps it's one of those things where everyone assumes - everyone else knows!
I cant understand why there would be an exception to the six year rule, excepting cases like Inland revenue/VAT where there is evidence of fraud.
If it is so, is it something to do with 'on behalf of the crown' ?

100% sure.

a few things to bear in mind, however.

CPR Schedule 2 CCR Order 26, Rule 5 povides that a warrant for execution shall not be issued without the leave of the court where more than six years has elapsed since the date of the judgment or order became enforceable, and that any application for leave must be supported by an affidavit

The other enforcement methods require a hearing, the time delay can be raised then.

Also bear in mind that most courts only keep a judgment on file for six year, so if someone wishes to use enforcement they would have to prove the original judgment still stands!