assets

[hessey50]

If assetts are sold eg car to pay Court and insolvency service fees will OR regard this as trying to pay less to creditors and kick off?

[Guest]

maybe.

dont they have the say anyway re sale of any assets once in bankruptcy? or is this prior to bank? in which case any asset sales just prior may be taken into account adversely?

[hessey50]

The point is to raise the fees sell item eg car pay this money to court is the or going to say that should not have raised money for fees this way I cant see him charging back the fee against himself and I would have no other source of raising the fees

[Guest]

point is, the bank'y form re a self petition re statement of affairs asks if have sold any vehicle within last 12 mths. ie whether they will regard such a sale adversely or not...? suppose one consideration may be its value, and whether there are any other available funds to pay the fees in comparison? and if more, where did the residue go?

[hessey50]

i am assuming that there will be no residual but it will put a most of the 500 or so together just worked out exempt court fees withh over 90k outstabing ms shortfall dont see an other route to go seems silly to prolong issue by trying to scrape up the money couple of quid here and there when car would probably be sold by or for scrap

[Guest]

prob wont be an issue then. but bear in mind that the form asks for details.

maybe check with yr local CAB, or national debtline, for eg. see what they say?

 

ps, not sure if read yr post correctly? y're now saying exempt from court fees?

[hessey50]

yes pension credit so amount is below fee limit according to local court 2 children single total monthly income below 1,575 EX160A form i think

[National Debtline]

Hello there,

 

If you have sold a car for it's true value and used the money to pay for your bankruptcy petition, i cannot see there being any issues. if there is a little left over the general rule would be to divide that amongst your creditors.

 

Hope this helps!

 

David @natdebtline