What Is Section 283A?

SunshineGal_2

Hi

I've just received a letter from my OR which is so full of legalistic jargon as to be incomprehensible and I wondered whether someone could explain it to me in layman's terms.

It is a notice that my home “falls under Section 283A of the Insolvency Act 1986”.

What does this mean?

I recently had my home valued as requested by the OR and the valuation confirms that I am in negative equity. I am hoping that this letter is confirmation that my home will now not be repossessed, as promised by the OR should I be able to provide such confirmation.

Thanks for your help

SG

fiveyearplan

What else does the letter say about that? I googled section 238a of the insolvency act and section 238 itself is about selling possessions for less than their worth. Their another document on google that I cannot open but it you google it you may find the answer.

fermi

Do yo mean 283A Bankrupt's home ceasing to form part of estate instead?

fiveyearplan

That would make more sense.

SunshineGal_2

I may have found the answer at:

http://www.langleys.com/main.asp?page=202

It says:

"There is a new Section 283A of the Insolvency Act 1986 named 'A Bankrupt's Home Ceasing to form part of the Estate'."

SunshineGal_2

Below is a quote from John at

http://www.bankruptcyhelp.org.uk/forum/topic.asp?whichpage=1&TOPIC_ID=5024&#23600

“...section 283A is purely the OR notifying you that he has a maximum of 3 years from the date of bankruptcy to deal with the property.

It has nothing to do with any decision or opinion he may have. Purely mandatory notification and nothing to worry about."

fiveyearplan

I've never received such notification.

mej24

I've received one of these today, thing is they've put my current address (rented) on the paperwork, rather than the property I used to own, which has been repossessed :rolleyes:

fermi

mej24 wrote: »

I've received one of these today, thing is they've put my current address (rented) on the paperwork, rather than the property I used to own, which has been repossessed :rolleyes:

Isn't 'admin' a wonderful thing? :rolleyes:

mej24

fermi wrote: »

Isn't 'admin' a wonderful thing? :rolleyes:

:rotfl:

Oh yeah, gave me quite a shock when I first opened the envelope I tell you! Hadn't got a clue what it meant.

Not as much as a shock as the landlord of my current property will get if they get notified in any way!!!

fermi

mej24 wrote: »

:rotfl:

Oh yeah, gave me quite a shock when I first open the envelope I tell you! !!

I bet!.................................