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Hi all,

 

I went BR late last year and recently got a letter saying my share in the house is just over £4,000 and they are inviting offers. I have no chance of raising that kind of money, so does anyone know what the next step would be? Will they apply for a charging order or apply for a forced sale?

 

I have had a look at their technical manual here: http://www.insolvency.gov.uk/freedomofinformation/technical/technicalmanual/Ch25-36/Chapter33/Annex/annex_2.htm and according to that they won't apply for a charging order before 2 years and three months after my BR date. Is this always the case?

 

According to that document, they will take into account certain figures when applying for a charging order, but using those figures it works out that my share is -£160.

 

I am so confused as to what to do.

 

Should I just offer them £500 (all I can get my hands on) or tell them to go for the chanrging order?

 

Any advice would be appreciated, especially from those who have been through this.

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I would just offer them what you can afford. It is going to be easier for them and more cost effective to sell the beneficial interest back to you rather than go for a charging order where the amount involved is low

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Thanks,

 

I can only offer them about £500, which is a lot less than the £4000 they value it at. Let's seer what they say.

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Keep us updated on the situation. Will be interesting to see what they accept

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