Reclaiming charges, but bankrupt (merged threads)

123oleary

could the money owed to you for repayment of charges (esp if it was for a large amount) be considered an asset to spread around all your creditors in the event of br

uktyler

123oleary wrote: »

could the money owed to you for repayment of charges (esp if it was for a large amount) be considered an asset to spread around all your creditors in the event of br

I should hope so, the OP's brother went bankrupt and could not pay his creditors. Any money recovered from that time should surely go to the creditors, not the OP's brother.

The OP's brother is not entitled to the money, it is not his, it belongs to his creditors.

I think he has a cheek to consider it his, as he never paid his debts off.

For the first time in my life I find myself agreeing with Capital One.

skylight

UKTyler is right - when you go BR, you legally assign all your debts and assets to your OR. Anything that is reclaimable or oweable on those debts are no longer your responsibility, they are the ORs responsibility as he "owns" them now.

Any charges run up on new accounts after BR though, is another matter as they would not have been included (obviously!)

Maranman

Skylight,

Sorry but that makes no sense whatsoever!

The charges reclaimed by me were illegally rendered and in my case, actually contributed to my need to be a Bankrupt.
Obviously, they were applied to my account BEFORE my visit to the Official Receiver therefore should be repaid directly to me.
I have written to Halifax again requesting a cheque, or else I am going back to the Financial Ombudsman for their ruling, if they can't rule then maybe the OFT can?

It would seem that "we" (that's all of us!) are in need some kind of test case or legal ruling on this, I am sure that Suzy66's brother and I cannot be the only people who are in this situation.

We need the definitive, legal answer!
Too many people on this, and other similar websites are very helpful and sympathetic and I am sure that they mean well but, just because a person has posted 10,000 posts on MSE doesn't automatically make the poster into a lawyer!

How sad would it be if, just because of heresay and uninformed posting, the banking institutions got to keep the overcharged fees in spite of all our hard work, letter writing and Martins tireless campaigning?

Good Luck to all,
Maranman

skylight

Sorry! It makes sense if you have been/are bankrupt! And I forget most actually are not.

OR - Official Receiver, the person to whom deals with your debts/assets
BR - Bankrupt.


It still stands though, that you assign your debt to an official receiver when you declare bankruptcy. They "own" your debt. They deal with it, are responsible for it and you walk away from it. You have absolved yourself of all responsibility of that debt when you declare bankruptcy. Its no longer yours to worry about. Your official receiver retains the right to claw back anything from that debt now, not you because its not yours. You can claim whatever you like, but any actual cash paid back must be handed over to the official receiver.


If you have not declared bankruptcy, then obviously the debts are still the legal responsibility of you and you can claim to your hearts content.

If you would care to search the forums on this (both the reclaiming board and the bankruptcy board) there are many, many posts on the matter with claiming charges and bankruptcy. Some in favour and some not. Perhaps you should ask your official receiver instead and gain their professional opinion??? Your individual official receiver may actually not care less - or they might.

And if its a legal answer you really, really want then ask a solicitor. Not a forum where its opinion only based on experience (or not!).