Lowell Group and Bankruptcy Petition

hopfarm

I have been made bankrupt (April 2012) and although I have tried to pay off all my debts to annul the order then there is still a shortfall and a trustee has now been appointed . I live in a property with equity that is jointly owned with an ex partner . Can we put the property up for sale at current market value ? I am trying to buy time as there is a chance that I will have the money to pay off my debtors by the end of the year.i know this will rack up extra costs but its my only option .

hopfarm

My story..... Lowell portfolio made me bankrupt in April 2012 ,it was for a credit card debt for £4500 , I had a meeting with the official receiver where I explained that Due to a house fire I had lost all my documentation on any debts I had (I also explained that 3 years ago my partner had walked out on me and my children and that I had continued to work full time to pay the mortgage ,council tax and other essential debts ,ignoring any non essential debts ,foolish I know but I was concentrating on securing a family home ).The official receiver told me that the best way to discover the extent of my debt was to check my credit report , this listed debts of £12000. I informed the official receiver of this and also informed her that I would like to pay off these debts in full ( with the help of a family member ) the official receiver gave me the name of a company that could help me and I contacted them , they told me to contact the individual companies ,make payments and once done then confirm with them and they would apply for an annulment of bankruptcy. My family member sent off cheques for a total of £12,000 ( including one for £750 to the company that were helping me ) .I then received a letter from the company that was acting for me stating that the staff member that was dealing with my case was leaving the company and that my file was now closed, I foolishly thought that my bankruptcy was over. Shortly afterwards I received another letter from a company that had been appointed as a trustee in my bankruptcy ! I contacted the company and the trustee informed me that there had been further entry's on my credit file including another claim from Lowell for a further £5000, total further debt £8000 plus costs = £15000. I explained that I believed I had paid all my debts and that this had come as a total shock ,they suggested I pay off the further debt because if I didn't then they would enforce the sale of my house.i have been trying to raise the money but have now had a letter stating the debt has now risen to £23000. I am very confused as I am an avid follower of this forum and my story just doesn't seem to be following the normal path . My premium bank account has been operating as normal,I have never been asked for bank statements or a soa ? I have continued to work full time ,pay the mortgage and all bills to maintain a home for my 3 children .My mortgage is £1100 p/m equity in my house is £100,000 would I be better to stop paying the mortgage and trying to save this money knowing that I will eventually be homeless anyway ? All I have ever tried to do is maintain a stable family home as a single parent and I have never claimed a government benefit ,feeling a little bit bitter right now !

fermi

I am a little confused how you did not know of the extra debts?

Also, if you have £100k equity can you not raise funds against that?

hopfarm

I know it sounds mighty foolish but I until my partner left then I had a very comfortable lifestyle ,when he left then I concentrated on the essential living expenses ( my salary on its own just about covers these ) . I am not convinced that the further debt that Lowell is claiming is a valid claim and not statute barred . However my trustees statements claims that the interest on the outstanding debts is now £1600 per month ! I was told that I could not pay off any debts with my own funds ( despite equity in the house) and so have not looked into this as a possible solution . My records read automatic discharge ,does this mean I can now llook at re mortgage and would I be considered ?

fermi

Update --> Order of sale and possesion on my house