Insolvency Practitioner

positivestep_2

Does anyone know what an Insolvency Practitioner does, as apparently my case is going to be passed to one. I have a mortgage on my home, but it is in negative equity and the OR said it's because of that, but didn't explain what an Insolvency Practitioner does.

philnicandamy

http://www.insolvency.gov.uk/freedomofinformation/technical/casehelpmanual/I/InsolvencyPractitioners/HandoverToIP.htm

http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch13-24/Chapter15/part7/part7.htm

positivestep_2

Thank you very much philnicandamy.

Rylynn

Someone else has had this happen only in the last day or so, was it Lily

LilyBart

Hi. Yes it was/is me. I was told that I was being passed over due to a creditor requesting an IP, and that it relates to money I was left in a will. They actually already have this money, so it doesn't make a great deal of sense, but pfff... My OH, Billy, is staying with the OR. We also have a place with negative equity but have sent the keys back.
Lily

EDIT Sorry, got distracted in kitchen. Very helpful link, Phil, thanks. Positivestep, from yesterday's phone call my initial impression of the IP wasn't great. But Kevin, who's posted on my thread about this, seems to have had a more positive experience of the IP dealing with his case. Let's keep in touch on this one and hope for the best!