Ask a CCCS counsellor a bankruptcy question

mysterio_2

Sunshinejsp wrote: »

Please Help;

I am not even sure if this is the right place to put this message.

I was made bankrupt in 2009 and discharged the following yr, (May 2010) I had been thinking of asking for my PPI back too but did not think it would go thru?

Anyway, i thought it was worth a try? they could only say yes ot no!

I called my old bank, and informed them of my complaint re the PPI charges i knewwere mis-sold. They said it would be looked into..

4 weeks later i get a letter saying they have offered me money and tho i know i could get more should i have taken it further i was just grateful to be offered something so i accepted. they are sending me a cheque in the post within the next 4 weeks...

The bank in question was also the same bank i owed money to when i was made bankrupt.

I have read many things on here and it is all so very confusing and gobbledogook to me.
Please. can someone , anyone tell me in simple laymans terms, will i or will i not get this money from the bank or will it go to the OR (Official Receiver) from my discharged bankruptcy
Please help

If these were accounts included in your bankruptcy then sadly they will be claimed as an asset by the official receiver who dealt with your case

have a read here

https://forums.moneysavingexpert.com/discussion/3766585

Anondebtadvisor

You can find guidance issued on the 10th April 2012 here
http://www.bis.gov.uk/insolvency/personal-insolvency/ppi-mis-selling-claims-and-bankruptcy

PPI mis-selling claim: a bankruptcy asset
Following provisions of the Insolvency Act 1986, The Insolvency Service takes the view that if a PPI policy was mis-sold before the date of an individual’s bankruptcy, any claim relating to the alleged mis-selling of the policy is owned by the official receiver or trustee of the bankruptcy estate, not the individual to whom the policy was sold.

Sunshinejsp

Thanks, But how does the OR know that i will have this asset? does the bank themselves tell the OR?
And how long will this have to go on for?

Many thanks for any help and advice

Sunshinejsp

Having just read the link you gave me i cam across this.
( Your assets after discharge
No assets you acquire after your discharge can be claimed by the trustee in bankruptcy.
Any assets that the official receiver or the trustee held or claimed during your bankruptcy remain under their control. They are not returned to you on discharge. It may be some time after your discharge before all your assets are dealt with. )
Does this not contradict what you have already said?
And who or what is a Trustee and are theses different from the Official Receiver?

mysterio_2

Sunshinejsp wrote: »

Having just read the link you gave me i cam across this.
( Your assets after discharge
No assets you acquire after your discharge can be claimed by the trustee in bankruptcy.
Any assets that the official receiver or the trustee held or claimed during your bankruptcy remain under their control. They are not returned to you on discharge. It may be some time after your discharge before all your assets are dealt with. )
Does this not contradict what you have already said?
And who or what is a Trustee and are theses different from the Official Receiver?

if this is an account your trying to claim PPI on that was a debt included in your bankruptcy then you'll be unable to receive anything it belongs to the OR...the paragraph you highlight is an asset you come into AFTER your discharge..because the accounts you claim PPI on were before your bankruptcy this wont apply for example..you have a lotto win after discharge thats to keep

Official receiver..THEN if you had assets IPA etc your case would be passed to RTLU (regional trustee liquidater unit) they deal with IPA's assets etc

System

Sunshinejsp wrote: »

Having just read the link you gave me i cam across this.
( Your assets after discharge
No assets you acquire after your discharge can be claimed by the trustee in bankruptcy.
Any assets that the official receiver or the trustee held or claimed during your bankruptcy remain under their control. They are not returned to you on discharge. It may be some time after your discharge before all your assets are dealt with. )
Does this not contradict what you have already said?
And who or what is a Trustee and are theses different from the Official Receiver?

Hi Sunshinejsp and thanks for your posts.

I see you have had some good advice so far.

If you have any further issues I’d recommend speak to the Insolvency Service. You can contact them here –

http://www.bis.gov.uk/insolvency/contact-us

I hope this helps.

Kind regards,

Mat

jexygirl

Hi there,
when we sold our last lease/ buisness in 2007, we were forced, by the asset management company to sign an AGA (authorised guarentee agreement) to pay the new owners rent should he default, otherwise we could not sell it.

Without boring you with the long drawn out details - the person we sold too, has been declared bankrupt by HMRC and in february, this year they stopped him trading. We assumed that the debt he had incurred in terms of rent would now not exist as it was his debt, not ours, and that we would no longer be liable for it.
Today we received a letter stating that the asset management company are pursuing us for a total amount of 46k as this is where the total debt now stands.

If he is now bankrupt and they are considering this to be solely our debt, if we then declared bankruptcy - would the debt not be erased - therefore why has it not been for him if you see what I mean?

We obviously, as buisness owners do not want to go bankrupt, however, we do not have 46k ot pay someone elses debt off that we had no part in running up.

We think the management company solicitors are "trying it on", and research we have done shows that not only are AGAs not legal in Scotland, there have been recent cases of them being overturned, and this has been a catalogue of errors on the management part, so if it were to go to court, we would stand a good chance of winning. We are however, about to embark on a "midlife gap year" having just sold our current lease, and go touring Europe... things were going so well until today!

Would welcome any comments on the bankruptcy legalities.
Many thanks in advance

kingofbones

I have been accepted for a DMP with CCCS but I am having massive problems with gathering paperwork as I threw a lot away pretending that it wasn't happening.

I have some proof, but not all and since I did the online part I have had notification that 3 catalogue debts have been sold to NDR money - if I have proof of NDR money owning them now will it matter that it won't match up?

I also have letters from my other debt, but no confirmation of the amount just chase letters and threats - if I send this? The only debt I don't have proof of is my Vanquis. But I could send the card/photocopy of card?

I feel sick and just want this all set up as I can't deal with it. My payslips are also online only, will a print out directly from HR website be okay? I don't want to have to be asked to send more, I need CCCS help because I just can't deal with my creditors.

Sorry this is a bit all over the place, I'm getting quite worried and even too scared to phone CCCS - don't even know why.

StepChange_Pavan

jexygirl wrote: »

Hi there,
when we sold our last lease/ buisness in 2007, we were forced, by the asset management company to sign an AGA (authorised guarentee agreement) to pay the new owners rent should he default, otherwise we could not sell it.

Without boring you with the long drawn out details - the person we sold too, has been declared bankrupt by HMRC and in february, this year they stopped him trading. We assumed that the debt he had incurred in terms of rent would now not exist as it was his debt, not ours, and that we would no longer be liable for it.
Today we received a letter stating that the asset management company are pursuing us for a total amount of 46k as this is where the total debt now stands.

If he is now bankrupt and they are considering this to be solely our debt, if we then declared bankruptcy - would the debt not be erased - therefore why has it not been for him if you see what I mean?

We obviously, as buisness owners do not want to go bankrupt, however, we do not have 46k ot pay someone elses debt off that we had no part in running up.

We think the management company solicitors are "trying it on", and research we have done shows that not only are AGAs not legal in Scotland, there have been recent cases of them being overturned, and this has been a catalogue of errors on the management part, so if it were to go to court, we would stand a good chance of winning. We are however, about to embark on a "midlife gap year" having just sold our current lease, and go touring Europe... things were going so well until today!

Would welcome any comments on the bankruptcy legalities.
Many thanks in advance

Hi jexygirl and thanks for your post.

I’d really recommend that you get some legal advice to see whether the agreement is legally binding or not. Unfortunately if it is you will be liable for the outstanding debt.

If this is the case we can advise you on repaying the debt.

Kind regards,
Pavan

StepChange_Pavan

kingofbones wrote: »

I have been accepted for a DMP with CCCS but I am having massive problems with gathering paperwork as I threw a lot away pretending that it wasn't happening.

I have some proof, but not all and since I did the online part I have had notification that 3 catalogue debts have been sold to NDR money - if I have proof of NDR money owning them now will it matter that it won't match up?

I also have letters from my other debt, but no confirmation of the amount just chase letters and threats - if I send this? The only debt I don't have proof of is my Vanquis. But I could send the card/photocopy of card?

I feel sick and just want this all set up as I can't deal with it. My payslips are also online only, will a print out directly from HR website be okay? I don't want to have to be asked to send more, I need CCCS help because I just can't deal with my creditors.

Sorry this is a bit all over the place, I'm getting quite worried and even too scared to phone CCCS - don't even know why.

Hi kingofbones and thanks for your post


Firstly, please don’t be scared to call us – we’re here to help and hopefully reassure you.

With the debt that’s been sold on, it’s not a problem to send the recent letter that you’ve received – you can just add a little note to explain it’s been sold on. Your payslip printouts will be fine too.

We would need proof of how much is outstanding on the Vanquis card. Do they send you statements which you could use? If you’d prefer not to speak to them you could write to them asking for an up to date balance but this will obviously prolong the DMP set up.

I hope this helps but please don’t hesitate to get in touch if you need anything.

Kind regards,
Pavan