Scottish LILI question.... Paniking

fa1ryw1ngs

Ok i am really confused now.... After having a "discussion" with my dad he said that i can't apply for bankrupcy untill i have 'Statutory Demand' /'Charge for Payment' is this correct??? I did have my house repossessed a long time ago and this is where all the debt stems from.... Now i am paniking that i cannot get out of this mess at all .... Please help words of wisdom will be gratefully recieved ..... I did recieve official documents from the sherriff at arms ? re repossession
xxx :eek:


I did mean LILA i am really freaking out now

vandanfc

Lila criteria explained here:

http://www.aib.gov.uk/MainNav/Services/Legislation/accesstobankruptcy/Debtorsapplication/Lila

fa1ryw1ngs

thank you i had a look there and also spotted this


Both of these documents are normally delivered by a Messenger at Arms or a Sheriff Officer.
Or;

• You have low income and low assets (LILA) - this is a route into bankruptcy for people who cannot prove apparent insolvency or get creditor concurrence.

do you think this means i don't need to have the above as long as i can prove " apparent insolvency"

fa1ryw1ngs

anyone ??
bump

coolcait

This is a tough one. I know your house has been repossessed, but how long ago did that happen, and has it been sold?

If it hasn't been sold yet, you really need to have a word with the Accountant in Bankruptcy and see if they'd accept a LILA application from you. If the house is still registered in your name, it may still be counted as your asset.

If it has been sold, then that makes things a lot simpler. As long as your income is under the minimum wage and you have no other assets worth more than £1,000 each (or more than £10,000 if you add them all together), then you could apply for bankruptcy under LILA.

If you can't go for the LILA option, then you would have to prove 'apparent insolvency', and your dad is right about the most common ways of doing that.

I don't know if you've had the chance to speak to a local authority or CAB money adviser in your area. If you haven't, I think you'd find it quite helpful to go and have a word with them about this.

HTH

fa1ryw1ngs

Hi the house was repossessed in june 2003 and has been sold on twice since then . Have taken advice from CCCS And Cab over\the years and have an appointment on the 12th Feb with money matters
thanks so much for the replies
xxxx

coolcait

fa1ryw1ngs wrote: »

Hi the house was repossessed in june 2003 and has been sold on twice since then . Have taken advice from CCCS And Cab over\the years and have an appointment on the 12th Feb with money matters
thanks so much for the replies
xxxx

Hiya again

It sounds like LILA is definitely an option for you then, if your income is less than the minimum wage, or if you get an income-related benefit.

Your dad wasn't totally wrong though, just a little bit out of date. The LILA guidelines are only a couple of years old. And lots of people who don't fit into LILA, do have to wait for that Charge for Payment/Statutory Demand before they can apply for bankruptcy .

good luck with the appointment on the 12th.

fa1ryw1ngs

Thanks again he is like a dog with a bone He has gone bankrupt abut 18 mths ago and hasn't recieved anything to say he had been discharged so we were arguing over that tooo ... Lol not often i stick up for myself but i wasn't backing down , think we both enjoyed the "debate" of it all

coolcait

I'm imagining the debate, lol!

Here's another snippet for you to throw into the mix. You/your dad won't get anything to say you've been discharged. You have to ask the Accountant in Bankruptcy for a discharge certificate (can't remember how much it costs - a tenner, £15, something like that).

Or, if you don't need the bit of paper, just phone the AiB or your Trustee and ask if you've been discharged. Don't forget though that the bankruptcy can go on even after you've been discharged personally (so you could ask about that too).

Depending on when exactly your dad went bankrupt, he might already have been discharged, because the new laws (with discharge after one year rather than three years) started on 1 April 2008...

fa1ryw1ngs

oh it was a great debate lol he kept saying " that's in england not scotland" ah well gave hin the number for AIB to call himself and left it at that lol
Thank you so much for your advice i really do appreciate you taking the time to respond.

I do have another question RE Credit Union.....

I have savings of aroung £700 and a loan for around £1100. I am wondering if i should go there and transfere my shares to my loan , then there is only £400 odd outstanding what do you think would this look like favoritism .... I do have to save for a deposit as LL is selling the house and i need to move i have about £350 in there that i could take as a loan but then that would be dishonest as i know there will be time (soon) i would not be able to pay it back due to the LILA (hopefully) .... Confused i don't want to be dishonest but i don't know what to do for the best all round


xxxx

fa1ryw1ngs

Bumping for advice