Is it true?

charliewalsh

Is it true that creditors can pressured OF to take everything I owned for example my old bnager or my no equity house even if the OF has originally decided that it is not worth the hassle? Can the creditors have any say in how OF is dealing with our affairs after bankruptcy?

Anyone has any experience?

JCS1

Not true - which creditor has told you this?

If you have any assets of over £10,000 or something unusual, then a meeting of creditors can be called to appoint an IP. If there is a majority creditor then they can nominate their prefered IP, otherwise it goes to a vote.

charliewalsh

It's the advisor I saw today at CAB. I have been so worried all day..Thanks for your advice. Much appreciated.

peachyprice

A house with no equity is not an asset, it's a liability, there's no court in the land that would grant the OR possession.

It sounds like your advisor doesn't know much about bankruptcy and is trying to frighten you.

tigerfeet2006

I agree Peachy.

Charlie give National Debtline a call tomorrow, they are open 9am to 9pm. Have a chat and go through your options with them.

charliewalsh

Thanks to both of you. I will call them for futher advice. Much appreciated.