RIP Martin - look out for the shysters, the loan sharks and the LIARS, you will be missed x

I would suggest that the ones you haven't yet defaulted on that you go into your account details with them and change your work phone numbers so they cannot contact you there. if you haven't changed bank account then change your card details to a card (can be credit card) that you no longer use on a diferent bank account.

Yes, from July to january last year, they never removed payments from the abbey current account created for hubby, we had to organise a repayment plan with them that is still oen going today.

 

If anyone has some useful insight into this problem then it is very much appreciated in any help given - were pretty much guaranteed a win/win situation, as the banks are at fault - not us.

So where is the money that was earmarked for the mortgage? is it still floating around Abbey somewhere?

Are you actually 5 months in mortgage arrears?

Lots of info here Dealing with a deceased person's money and property : Directgov - Government, citizens and rights

When a person dies, debts must be paid in a strict order of priority from the estate. The funeral expenses always have the first call on the estate before any debts of the deceased must be paid, if there are any funds left in the estate. Personal loans and credit card debts are only to be paid once all of the priority debts (such as secured loan or mortgage) have been settled, if there are monies left.

 

I have two questions:

 

1. If the bank have used offsetting to take some money in the deceased's bank account to pay a small unsecured personal loan, are they bound by law to return the funds which they took from the account to the executor if it can be demonstrated that there is not enough money in the total estate to pay the funeral expenses?

 

Yes - they cannot take funds from an estate without probate or letters or administration and the estate being settled properly. The account should have been frozen and any balance paid to the estate.

 

2. And - Should they have used offsetting at all (immediately on being informed of the death) without engaging with the executor?

No as above

What I am getting at is SHOULD THE REFERAL HAVE BEEN MADE? There was clearly enough professional support and close family support available, combined with the fact that the over medicating was done under their roof against our wishes. The E.S.N at the meeting even told of single parents she has as patients with worse Epilepsy stability than my wife who cope well with having a baby. Of course, it was too late for the social services to back away now, they were legally obligated to investigate.

Yes definetly - The referal was not made on medical grounds but on the basis that your wife has previous history where she was injured during a fit and the way that she presented following the medication. The person referring from the hospital and the social worker would need to be satisfied that your baby could be left alone with your wife without being in danger if your wife had a fit. I don't see what your complaint is here.

Impossible to say, but generally speaking the OR will go through all your accounts with a fine toothcomb - I've known relatively small transactions of less than £50 be questioned, and large ones for holidays of £3K to be ignored. Luck of the draw of the OR really.

No I am not being investigated ( at least not yet ) I jut want to get a better feel for 'a very new world'.

 

Reckless spending aside, it seems to me that there might be instances where a person might have made a credit card transfer in favour of a third party - possibly a family associate - so the debt ended up on the bankrupt's credit card, and I wonder whether or not that might be likely to be picked up by a trustee, and therefore potentially vulnerable to a trustee claim.

It would all depend on the size, age and nature of the transfer - £5K on what was probably a joint household debt 2 years ago, would be treated very differently to £10K, a few days or weeks before you went BR.

I understand that a Trustee in bankruptcy enjoys extensive powers, certainly extending to historical bank records and statements.

 

Do the Trustee in bankruptcy powers extend to demanding historical bank records / statements of a spouse ( independent account, not a joint account )?

 

If they suspect you have been concealing assets in a spouses accounts then yes they can.

In practice might a a Trustee in bankruptcy also review the historical spending of credit card accounts? Or would the Trustee in bankruptcy more likely accept the debt figure claimed by the credit card company without further review?

They won't dispute the figure but can still look through the accounts to see if your spending has been reckless and possibly the cause of your current situation,

Is it something specific you are being investigated on?

companies are lloyds bank,and black horse all money grabbing ba*****rds

can you give me the names of charities who may help

I meant the names of the people trying ot get you into a IVA.

A search should throw up some charities.

However if your debt is as much as as you say and you have already lost the house then Bankrupt is the way to go, it will take into account all your debts including northern rock but will not take into account IR.

 

The IR will however allow a payemnt scheme that will be prioritised over any payments to lenders.

Any debt will be included in the BR -exceptions are CSA, certain court fines and student loans (not bank related, cards and overdrafts etc but actual student loans from govt).

Not sure where your statement is coming from about the IR.

if you want any specific advise let me know cheers james

Please post any questions on your thread and they will be answered so all can see and advise further.

retired from work 9 yrs ago after fiinding out i have parkiinsons disease ans live on benefits .ive reclaimed bank charges,ppi ect.ive tried a credit fix companyand now been advised to take an iva.

thing is i cant afford the payments on the iva £200 per month for 5 yrs !!

name and shame these people - you are on benefits and there is no way you can afford let alone even suggest a huge commitment like a IVA that is only suitable for the minority of people in debt.

Your car should be safe but you need to declare it on yourSOA - you will only need to pay £345ish not the full £500 and there are charities that can help with the fees.

Your best bet would be, if you can get it a MBNA or Egg 0% card , both of these you can transfer funds into your bank account and spend as you wish with no interest to pay for 15 months, just the minimum payments. Both these give generous credit limits. In 15 months you will have an income and be able to get a loan to transfer the balance.

The difficulty will be that at present you have no income, and the process is automated.

Have you thought about leasing a car for a while, or HP which is expensive, you could also put your insurance on a monthly DD.

Does your new employer offer assisted purchase vehicle loans, although to be eligible you will most likely need to be out of your probationary period.

Barclays I beleive are one of the easiset graduate accounts to get.

Good Luck and congrats on the new job.

Gizmo.

 

So if tillly presents the letter she got from Mortgage company saying this is correct as far as i know then if there is a problem she can say its not my fault u gave me the info.

 

I dont mean to be rude on this tilly but the Official recievers cant expect us to understand the ins and outs of all this stuff can they as it would be hard for a lay person, like tilly, to understand and calculate the interest there fee etc.

 

I dont even understand the interest on my bank account let alone a credit card or mortgage.

It doesn't really matter what the amount is, that is the OR's concern not Tilly's, and it won't really matter as she has no assets to contribute towatds the debt, so the whole amount will be included in the BR and she will have no liability for it. She doesn't need to worry about the interest calculations etc unless she feels that challenging them would reduce the debt to a level she could afford without going BR.

well they balls up is in ur favor in a way i think

 

If they want to charge u 3k less then i dont see why u should argue as in the long run its them that will lose out especially on 3k worth of interest and rites etc.

 

 

Anyway Just a question for the more experianced caggers.

 

If tilly was to go bankrupt on the bases of this wrong information is there any come back on her if say 6 mths later they find out they have gave her faulse info?

 

do they have any rites to claim the extra money or anything?

No there is no comeback unless she was to go BR and the whole amount was wrong - for £3k out of £65K its not even worth worrying about, it makes no difference whatsoever.

Get your wages and any other monies paid into a seperate bank account so you have full control of your finances.

Would people be able to advise on if this course of action is possible and what action to take next?

Your credit rating is likely to be trashed because of the DMP, so no one is going ot give you a loan and much less a mortgage.

Any mortgage will take into account your current debts and this will reduce the amount you can borrow. You will need at least a 15% deposit so on your figures of 100K you will need to borrow around 20K unsecured - unlikely.

I suggest you pay off your unsecured debt, then save up for a decent deposit as well as the fees, this will give your credit file a chance to recover slightly as well.

Or is there any other way we can get out of paying the mortgage?

Why do you think you have a right to do this? CAG is not and never has been about debt avoidance.

What are the full circumstances? I doubt very much if your gran made a completly new purchase at age 83.

It is your responsibility to check that payments were being made - you would have received a statement annually which would have shown that your payments were still interest only and that your balance was not reducing.

I think you'll be fine - but what are your plans for the £175 car payments?

Also don't seperate your food - groceries and lunch should be added together to make one monthly figure, You have £45 (@ £3 per day) do you only work 3 weeks?

Regards the car - tell the OR you want it included in the BR and give the car back to Ford - any future liability will then be included in the BR.

The telephones etc may not be allowed on your SOA, but that doesn't mean you ahve to give them up, you just pay for them out of your surplus. The OR will t ake roughly 60% of your surplus if it is over £100.

Have you included a line for emergencies, holidays and entertainment as well as a samll amount for xmas and birthdays? Some may get crossed but then again they may not and they all reduce your surplus.

Bankruptcy tomorrow - Nottingham.... If I post my last attempt at my SOA will anyone give us a bit of advice?

 

Cheers

Gaz

Yep go on post away I'll see what I can do.

I did not see their offer until I had received all the paperwork from the solicitor who completed the purchase of my property.

You would have signed the offer before exchnage and ceretainly before they released the funds. A 5 year period can be up to 5 yrs 11 months.

Do you not think the following references are relevant and to my advantage?

I don't think the contract actually comes into force until the money is released - the offer is just the offer of a binding contract. I could be totally on the wrong lines but thats my thoughts.