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Bankruptcy Advice
bigdec
Posts: 271 Forumite
My brother has his bankruptcy meeting on Monday he had contacted CCCS and they advised the bankruptcy due to the high debt 42000 he has no income apart from benefits and he has had to borrow the money from the family topay the bankruptcy fees he is married but not listed on the deeds for the house he was sacked from his last job due to a very long term illness all his debts are loans and credit cards . if it all goes to plan and they do grant him bankruptcy is ther any thing that he should be aware off like if he goes back to work and starts earning what happens or can they try to take the house his name is not on the deeds
:T :beer: :j
:T :beer: :j
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Comments
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It is very unlikely that they will try to realise any equity from the house if he is not named on the deeds - HOWEVER he will be asked if he 'gifted' his share of the house to anyone in the last 5 years, and if this were the case then the OR may view that as fraud. If, on the other hand his name has never been on the deeds, then he has no beneficial interest in the house and it can not, generally, be touched.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
rog2 wrote:It is very unlikely that they will try to realise any equity from the house if he is not named on the deeds - HOWEVER he will be asked if he 'gifted' his share of the house to anyone in the last 5 years, and if this were the case then the OR may view that as fraud. If, on the other hand his name has never been on the deeds, then he has no beneficial interest in the house and it can not, generally, be touched.
He is not listed on the deeds of the house he never has been even when they married .0 -
please join our thread, the bankruptcy club & supporters club, its on here somewhere rog2 posts a lot in there, many others in same boat has great info
Sarah
coupon over here, coupon over there, every crack filled with coupons even down there(meaning under the buggy lol):D0 -
bigdec wrote:He is not listed on the deeds of the house he never has been even when they married .
Then, since the house does not belong to him, he does not need to worry.:beer:I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0
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