Creditor not listed in Statement of Affairs (Debtor’s Petition)

alastairq

silvercar wrote: »

The risk is that in court he claims that the debt was hers, if she is prepared to say in court that she agreed to reimburse you not him, it may be classified as her debt alone.

Absolutely..this may well be a defence...however, if the OP can demonstrate that both parties benefited from the proceeds, then it may well be argued, both are liable?

With a civil case such as this..it is about 'balance of probabilities'....

debtinfo

agreed and i think it likely that a judge may rule that each is responsible for their own jalf in the absence of any formal agreement. leaving a debt of £350 to be chased.

OP, the thing you need to think about is this, if the court sides with you and decides that that debt exists to you from the non bankrupt person, what then? is this person likely to have the funds to pay you, given that one has already gone bankrupt it would suggest that they are not doing so well financialy. having a debt owed to you is worth nothing if there is no way to collect it, how much would you be willing to spend on enforcement with no guarantee of return, you know the debtors situation better than any of us, sometimes it is better to let things go if there is no prospect of getting a return, and i know that is more difficult if you feel slighted by a former friend but you need to look at it objectively

cwisd

Too true debtinfo, a sense of reality and sensibility versus the desire for justice needs to be maintained. The phrase "throwing good money after bad" is quite appropriate here I think.

In the event of a victory, I'll have to see if I can have them tarred and feathered instead.:D

alastairq

In the event of a victory, I'll have to see if I can have them tarred and feathered instead.

Only the husband, perlease......


His wife is BR, and must have reasons for going down that route.....plus, the OR will have realised her assets for the benefit of creditors....in any event, if you initiate Court proceedings against the husband [small claims] then, if the amount owed is divided, at least you can claim that amount from the wife's BR estate.

We don't wish to encourage any more vindictiveness against BR individuals from creditors than exists at the moment......do we?

unsure100

alastairq wrote: »

caution, pedant alert!

For the benefit of lurkers...........secured debts are not included within a [personal] BR......[since they will be secured against an asset, usually a property.]

This can be confusing, since other threads advise how..for example, following a re-possession, shortfall gets included within a BR.

The method is as follows....the property asset is re-possessed..therefore any shortfall becomes unsecured...therefore falls into the BR.

Thus, a secured debt has to become unsecured before it can be included within a BR.

What if you went BR and then a week later were repossessed?
Surely they wouldnt BR you again?

fermi

unsure100 wrote: »

What if you went BR and then a week later were repossessed?
Surely they wouldnt BR you again?

If you hadn't signed a formal deed of acknowlement admitting you were liable for the shortfall in the meantime, then any shortfall would still fall into the BR.

see ---> If my house is sold sometime after the bankruptcy order is any shortfall on the mortgage still a debt in my bankruptcy?

alastairq

What if you went BR and then a week later were repossessed?
Surely they wouldnt BR you again?

As fermi has posted.....

however.....remember, bankruptcy is not some form of financial punishment.....creditors don't seek to petition for a debtor's bankruptcy, unless those creditors sincerely believe the debtor has assets which can be realised.

And any unsecured debt which can be proven to have existed prior to the BR, is included within that BR.

So even if a creditor tried to pursue the option you suggest, it wouldn't get very far, because of the previous BR....it would not happen.

Pretty much the only organisation who petitions for BR, regardless of whether any assets exist, is HMRC...and they do so, in simple terms, to clear the debt off the books in a trice......they're all about ticking boxes...ticked boxes mean good performance.

copier_guy

OP - i understand your frustration at not being paid back.

BR affects families as a whole - the couple may be facing hard financial times - paying back IPA to the OR or something.

I am not trying to defend them - i dont know anything about this other than what you have posted?

The concert was also in 2006? getting on for 6 years ago?

Sometimes its just better to let go.

Good luck