Discharged

mattsmith31

I was discharged from bankruptcy in june this year but hadn't heard anything from the company that was dealing with it. They have now contacted me stating there is equity in my house and to see if i can pay it. When you are discharged, when is everything finalised?

fermi

Company?

Did you go bankrupt? Or are you talking about an IVA/trust deed instead?

mattsmith31

The company that were appointed to deal with bankruptcy.
I was made bankrupt.

tigerfeet2006

Are you

a) in Scotland?

or

b) was there a IS appointed because you had equity in the house?

If it is b then the IS has 3 years to deal with the equity in the property.

mattsmith31

Yes i am in scotland.
At the time i had my mortgage and a loan secured on my house but there wasn't enough equity in the house to cover the loans, Its now been over 3 years since i was made bankrupt and now there telling me they think there is equity. I also thought after 3 years that was everything finished.

tigerfeet2006

Different rules in Scotland and I am not sure what they are to be honest and I am guessing that as you are saying it has been 3 years since your BR that you went BR under the old rules and not the new rules put in place in April 2008.

It might be worth a phone call on Monday to the AiB and asking their advise on this 0845 762 6171

Sorry couldn't of been more help. Would be interest to know what the answer is tbh.