ok new letter from OR - confused (again!)

clanbailey

hiya guys

hope you are all keeping well - havent been on here for a while to post but been hovering

just got a letter from OR (trustee) and not sure what it means - so heres a couple of snippets outta the letter - if anyone could shed some light on it that would be fab:

I, ......, the official reciver and trustee of .... ME...... give notice that:

Insufficient assets have been realised to enable a dividend to be paid to creditos.

I intend to apply to the Secretary of State for Business Enterprise and Regulatory Reform for my release as trustee.

The release of the OR does not affect the discharge of the bankrupt from these proceedings; this will be determined in accordance with section 279 of the Insolvency Act 1986. When the bankrupt is discharged, any asset including in the bankruptcy estate that has not been realised continues to belong to the trustee; it is NOT returned to the bankrupt.
....

I am baffled by what this is about - and I have NO assests or surplus cash - pleeeassssssse help my confused little brain LOL

thanks

JCS1

clanbailey wrote: »

hiya guys

hope you are all keeping well - havent been on here for a while to post but been hovering

just got a letter from OR (trustee) and not sure what it means - so heres a couple of snippets outta the letter - if anyone could shed some light on it that would be fab:

I, ......, the official reciver and trustee of .... ME...... give notice that:

Insufficient assets have been realised to enable a dividend to be paid to creditos. No payment to be made to creditors.

I intend to apply to the Secretary of State for Business Enterprise and Regulatory Reform for my release as trustee. Early Discharge

The release of the OR does not affect the discharge of the bankrupt from these proceedings; this will be determined in accordance with section 279 of the Insolvency Act 1986. When the bankrupt is discharged, any asset including in the bankruptcy estate that has not been realised continues to belong to the trustee; it is NOT returned to the bankrupt.
.... You still have to co-operate, and any assets (if any) still vest in OR such as property, etc.

I am baffled by what this is about - and I have NO assests or surplus cash - pleeeassssssse help my confused little brain LOL

thanks

It's a good sign, don't worry.

clanbailey

hiya JCS1

thanks so much for the quick response and the part you have put in and got me excited is the Early Discharge bit OMG that would be amazing

thanks again much appreciated

Holes_in_my_pocket

so is this a standard letter everone will get

lisamummytoarchieplusbump

i got this letter last week and i got discharged 30 june. at first i panicked as it had amount still owing £1,715 as it was the trustee fees but then read on that "the OR is not aware of any assets. the cost of the procceedings remain unpaid and at present there are no funds for distribution"

dalip

I got one just before my ED clan so fingers crossed.Dx

clanbailey

OMG OMG OMG how exciting -just hope my OH gets one through too or it will be a bummer

gosh thinking that I could have ED has made my year - ok going BR is not the easiest thing in the world but I have have the best year in about 5 years so far as I do not have the dread and stress of all the debts letters and phone calls, cant believe what a huge cloud I was living under

thanks again everyone
xx

fermi

I had that letter as well. It was then another 7 months before I was discharged.

It is good news, but don't 'count chickens'.

lifebeginsagain

I had this letter last week as well but DH hasn't received one yet.

GotToChange

fermi wrote: »

I had that letter as well. It was then another 7 months before I was discharged.

It is good news, but don't 'count chickens'.

Me too

I also took it to mean that, if I had any issues, I couldn't get support from them as it had a "hands washed of you" vibe to it imo. But when I tried to clear up my Experian report and called the OR office, they were still very helpful.

It IS a good sign but actually means very little. Once they have sent it though, they are not very likley to ask you for any further info or put an IPO or IPA in place. It is not a precursor to ED I'm afraid.

nervousmother

I have just received a letter stating a final creditors meeting has been called. The successful conclusion of the meeting will release me from being yur trustee in bankruptcy. However, I would point out any unresolved issues arise the Official REceiver can be reappointed:
A meeting of creditors pursuant to section 331 of the insolvency act 1986 has been summoned by the trustee for the purpose of : a) receiving the trustee's final report of the administration of the bankrupts estate(my calculations I think they got around £12k from our estate) and b) determining whether the trustee should be granted his release under section 299(3)(d) of the insolvency act.

I am already discharged :-)

I think the letter is more so the Trustee no longer has to deal with you. One question, did you have a Trustee or did you stay with the official receiver? You will more likely get ED if you stayed with the OR rather than a trustee at this stage.
But either way things are progression nicely and good luck with it all.