Trustees

edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
9 replies 650 views
chris2447chris2447 Forumite
36 Posts
edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
Hi,

My husband and I were made bankrupt in November last year, this week we had a letter from the trustees with a form to fill in which is exactly the same information we gave to the official receiver. Why do they need the information twice?

We sold our home to rent back years before we bankrupt but there is a lump sum due in 2012 which we know we have to give them.

Some of the questions are about the car which we were told we could keep. The insurance policies which we bought back the interest. How do you value your belongings when you have nothing that is classed as an assett?

Be grateful to hear if anyone else has had this problem

Christine

Replies

  • onwardonward Forumite
    199 Posts
    If a trustee was appointed then you would have been notified by the OR that a meeting of creditors took place (they would have told you this before it happened). I also had a trustee appointed, and they go through the same assets and income questions the OR does.

    Have you had notification from your OR that they have handed over to the trustee?
    VSP Challenge 2014 #??? - £9.97
  • All we had was a letter to say they were taking over, nothing else

    Christine
  • ive had a letter saying they are appointing a joint trustee whatever that means "anyone know "
  • check your thread, i answered your question
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • onwardonward Forumite
    199 Posts
    chris2447 wrote: »
    All we had was a letter to say they were taking over, nothing else

    Christine

    A letter from who? From the trustee saying they are taking over, or from the receiver saying they are passing it onto a trustee?

    If you have not been notified by your OR, then I would contact them to ask what the situation is. At the every least you will need to know who your point of contact is - i.e. it would normally be the receiver until the receiver tells you it has been passed on to another party.
    VSP Challenge 2014 #??? - £9.97
  • We had two letters one from the official receiver and the other from the trustee. Does anyone know if the trustees go into your bank accounts again?

    We opened a current account just before bankruptcy for our salary to go in. Then after the bankruptcy hearing we opened a savings account to save up for the bills that are not paid monthly. As we have an income agreement we pay the remaining money into a long term savings as we will have to find somewhere else to rent in 2012. Do they have the powers to take any of this money?

    It seems you are starting all over again with the questions they ask on the form.

    Be grateful for any advice.

    Christine
  • onwardonward Forumite
    199 Posts
    I can only give my experience, if it's of any help.

    I also had two letters - on from OR saying they were handing over, and one from the trustee.

    The trustee sent me a new income and expenditure form, and requested my previous 3 months payslips (the OR had never asked for payslips). They also asked me to hand over my vehicles, but I told them the receiver had already taken one and exempted the other.

    They didn't ask me anything about the debts included in the BR, or my bank account details (although they most likely got all of that from the OR).

    I've heard nothing from the trustee for about 3 months now...I bet I get a letter in the morning after saying that :rotfl:
    VSP Challenge 2014 #??? - £9.97
  • Many thanks for your reply, we spoke to the trustees and they have not had all the paperwork from the OR, one being us buying back the interest on our life policies. We will try as best we can to fill it in the income and expenditure is fine but how do you put a true value on household furniture and belongings, we have nothing of value all our furniture is at least 7 years old.

    Christine
  • debtinfodebtinfo Forumite
    7K Posts
    All you furniture ie exempt from the bankruptcy
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
This discussion has been closed.
Latest MSE News and Guides

Energy price cap could be extended beyond 2023

New plans have just been announced by the Government

MSE News

Cheap contents insurance for tenants

DON'T assume your landlord covers you

MSE Guides

Summer sizzlers round-up

Incl £2ish sun cream & £1.50 disposable BBQs

MSE Deals