Hi, Im looking to get some advice and hope some of the guys on here can help. MY home is in zero equity and we owe aroung 120k with no arrears, the house is only worth around 85k with the current climate, we have other debts which we are in payment plans with several and have defaults on one cc but no ccjs. i have been offered to move into a family home to help us get on our feet. question is will our mortgage company allow us to sell the house and arrange to pay back the shortfall? is this likely or are they likely to say we cannot sell? what other options are available, what would happen if we simply gave the keys back? what would happen if we decided to go bankrupt with the shortfall? can we declare bankruptcy without any ccjs ? we have around 50k unsecured debt and this is taking its toll. moving to family members home would be a great solution for us but not sure how we should approach the morgage lender. all help would be greatly appreciated.

Someone who owed me money (£40k) unsecured declared himself bankrupt. A trustee in bankruptcy is involved. This has been going on over a year and I got my annual report from them today. The investigation is still going on but he has been discharged. How does that work? The Trustee is still waiting o/s information from him despite requesting this 3 times. They are querying transactions totalling £30k and as yet have still not received the requested bank statements showing what this was for. I am pretty sure he has been 'getting rid' of money to one of his siblings. Also there is property in Canada which conveniently he transferred to his now ex wife (convenient) as a nil value. She is saying the reason being is she paid for flights to Canada, refurbishment, furnishings etc. They requested some info from the ex wife and she told them when the property was transferred to her it was worth 45k Canadian Dollars, when in fact I have proof from the Canadian Land Reg it was worth 75k Canadian Dollars which I shall be giving this info to the Trustee. What happens if he is found to be lying to the bankruptcy people and if indeed he has 'given money away'. He also was married for 10 years and lived together for longer than this. The house was his exes before he met her and is unencumbered. Can the trustee not raise the question that there is a beneficial interest in that property. All this happened in 2015 - divorce, transfer of property, bankruptcy! Not only does he owe me £40k, the trustee in bankruptcy says there bill is £30k for who pays for that if he has no money?

Hi, sorry if im posting in wrong section not sure where to go. I have just noticed on land registry there is a petition in bankruptcy notice 86 (2) from 2013, within 14 days i paid the debt off fully, but creditors (virgin) wouldn't acknowledge it or send a receipt, totally ignored me when i paid the £8,500 by bank transfer (receipt found) how can i get this removed as want to sell the house, any help at all please as i thought this all went away in 2013 when it left me broke, ive just back on my feet.

I have a charge order placed on my house by Bristol & Wessex Water for £1800. They recently sent me a letter stating that if I don't pay the full amount they will be taking legal action and apply for an order for sale. I then will be sent an order to vacate my property within 28 days. My house is owned outright with no mortgage and currently valued around £200K. I am living on a small private pension with no chance of paying back the debt. I went to the CAB who told me that I will end up homeless and living on the streets as there is no social housing available for single men. The Water company placed a CCJ on my credit record so it's impossible for me to borrow money to pay back the debt and keep my house. I could never understand why there were homeless people on the streets, but I do now. I will be joining them soon. What an idiot I was buying a house. If I had a council house I would have nothing to worry about and a safe roof over my head. I know a chap near here who lives in a housing association bungalow. He owes banks £73k and will not end up homeless. Comments welcome.

In brief.. I hold a charging order on a property The debtor became bankrupt last year and it seems has now been discharged. As the charging order survived the bankruptcy my question is.. Can I still go down the route of enforcing the judgment in the usual manner, for example, could I apply to court for an 'Order to Obtain Information' etc A little background info.. The property in question has a mortgage. The mortgage lender took the debtor to court and obtained a possession order in July 2015. To my knowledge the mortgage lender still hasn't acted on it yet. Any thoughts welcome and thanks in advance

I have a few student loans taking back from 1997, 98, 99 and 00. I went Bankrupt in 2010 but was told my student loans would not be included in my Bankrupcy. I spoke to SLC and they backed this up. I was still receiving deferment forms from SLC and I kept deferring the payments but have now received a letter from Erudio who say they have now bought the debt. I have now read that certain student loans could be put under Bankrupcy so could be written off. Would these loans have been written off when I was declared bankrupt? Was I miss-informed? Any information would be great

Hi all, I have been living in the Netherlands for four years and now in the process of sepearating from my husband - i left debt in the UK around 7k (bank overdraft, pay day companies) with the intention of repaying when i started living here, unfortunatley as my husand was out of work for much of the time i lived here i was unable to pay back. Can anyone please advise on the best way to tackle the situation. Thanks in advance.

Hello, I made myself Bankrupt in April this year (2014) and at the same time one of my creditors served me with a CCJ, as i am bankrupt i know i can write to the creditor and ask them to write to the court to have the CCJ marked as settled, but i am not sure how to word it, any suggestions? Thank you

Hi, I am new to this site and have been going through a very nasty divorce for the last year. Things have got very bad now and my soon to be ex husband is threatening to complete an IVA. The situation is my husband left in July 13, whilst I was 17 weeks pregnant. We now have a 2 year old and a 6 month old. My husband has not paid anything towards the mortgage for our house since he left in July 13 and I have been paying this in full on my own. We have a joint loan (all of which is his debt but it is in joint names) with a balance of 23k outstanding. My husband has been paying the monthly payments on the loan and I felt this was reasonable as I am paying the mortgage (which is more expensive per month) but as both bills were being covered I have not asked for any help towards the mortgage or upkeep of the property). My husband pays maintenance for both children, directly to me and not through the CMS, but has recently reduced this as he says he will only pay what the CMS say (a difference of £11 per month) and has also not been paying on time which is causing me financial difficultly as i have direct debits to pay the bills coming out. We have had an agreement about maintenance for the last year via solicitors but he is now not sticking to this. If i were to go via the CMS i would end up worse off as we both would need to pay the CMS fees meaning the children get less money per month. To reduce legal costs I have been corresponding with my husbands solicitor directly but he is failing to give any answers about the finances and my husband will not attend mediation unless we are in the same room. I cannot do this due to the psychological abuse he has caused and doing so will not assist in repairing my mental health. So the situation is he is now refusing to pay the unsecured loan and discuss the finances any further, I am paying the mortgage and he is saying he is taking out an IVA. I am very worried that this will affect the mortgage and make me and the children homeless. Can anyone help to advise me what will happen if he does not pay the loan? Will it affect my housing position? Is there anything i can do? I have spoken to the loan company and they have advised they will not discuss any financial arrangements with us unless the loan is in arrears which will create a default on our credit ratings. This seems crazy and surely they should try and help us avoid this situation especially when i am offering some payment, i cannot afford the whole monthly payment while paying the mortgage. I am sorry this is very long, but I thought it best to explain the whole situation. Please help!

Hi all, need an answer to this if you dont mind. Cant find anything anywhere on the net. After having a CO on my home for the last 7 years, I now get a letter from Wright Hassall solicitors threatening to serve me first with a Statutory Demand followed by a petition to obtain a Bankrupcy Order. I would have thought that somewhere down the line I may have been fighting an Order for Sale, rather than Bankrupcy. So is there a reason in the solicitors favour for going down this route or is this standard? Then then list charges for which I will be liable - Statutory Demand £60 Petition £540 Bankrupcy Court Fee £220 Bankrupcy Petition Deposit £700 Bankrupcy Searches £52 Process Server £84 Application for Substituted Service £35 Agents Fee for Attending Hearing £90 They then go on to reassure me they are sympathetic to my situation and aim to negotiate a mutually agreeable repayment plan based on my current financial situation. Well at the moment I have no income whatsoever. I lost my job last year, cannot get any benefits ( due to my wife working) so Im a bit stuck at the moment. The letter also states that should they not hear from me within the next 14 days the Statutory Demand MAY be issued without further notice. So what do you think? Possible bluff or serious?

thanks everyone

Hi Everyone, My Boyfriend is filing for Bankrupcy, i have been supporting him through this, however i am posting this thread for advice on myself, My Fiances are fine, I have a HP car which i have paid soley for the past 3 years, The logbook is in my name and so is the insurance. however my Fiance is a named driver on the insurance policy, i put him on the insurance last year. Can the OR take an interest in my car? i need my car for work and use it for business needs so cannot function nor earn money without it. Thankyou.

Hi Need some urgent help please, a solicitor has contacted my mum in respect of a debt that has been under dispute for a number of years. Connaught have now purchased the debt and they are acting on behalf of Connaught Collections. What does she do???

I was served with a statutory demand last week and so I wrote to the "creditor" to ask them to withdraw it. They have sent me a letter yesterday saying that it is withdrawn, however, is this sufficient? What are the formalities of withdrawing a statutory demand? The Insolvency Rules say nothing! Should the creditor submit the form 6.4 and 6.5?