Can you pursue debt from a bankrupt

Superherogirl

I am owed money by my ex partner who is now bankrupt (since last month). He had admitted the debt in a number of correspondence. I lent him personally to his bank account and to his company (now in liquidation), the company money was for him personally. i can prove the debt was personal. He has admitted in the correspondence I did not gift him the money or that the money was a repayment of a debt by me to him. I got so far as getting a CCJ on the personal money to the bank account but his bankruptcy kicked in a few months later and he had filed against this and it was in dispute. He said that he had responded to enquiries - all delaying mechanisms. Have i lost all ability to get this money back or as A not named as a creditor in his bankruptcy. Do I have the right to pursue the debt?


I guess, that as he is a bankrupt he has no assets at this time am i better waiting for his bankruptcy to be discharged in a year and then pursue him or file now in his bankruptcy. His lifestyle is the same, he drives a BMW, rents the same flat and has a holiday. I don't understand this as i thought if you went bankrupt you had everything ceased by the official receiver. It is a significant amount of money. I don't want to waste another penny on court action.

Anyway, any advice would be great. Thank you.

National_Debtline

Hello there,

Has he personally become bankrupt? If so then you'll not be able to recover the money directly from him - although you would become a creditor. This means that if the Official Receiver is able to recover any money in the form of assets and payments, you would be entitled to your share.

If it is his business that has been liquidated, and if he has not become personally bankrupt, you *may* be able to recover the money from him still.

Hope this helps,

David @natdebtline

safc88

You will not be able to wait until he has been discharged from Bankruptcy and then take action. All debts due as at the making of the Bankruptcy Order will be caught under the bankruptcy (which will includes the funds that you are due).

In repsect of the personal funds the only thing that you will be able to do is claim as an unsecured creditor within the Bankruptcy.

He will still be able to rent a property if he is bankrupt (as long as the rent is reasonable) however if his car is of a high value then this should be realised by his Trustee and then the Trustee will allow him to retain funds in order to purchase a more reasonably priced vehicle (if the vehicle is in his name).

[Deleted User]

Was the money he owes you, included in the BR?

alastairq

Bedsit_Bob wrote: »

Was the money he owes you, included in the BR?

It is irrelevant whether a debt [a creditor] is 'mentioned' in the BR paperwork or not.

BAnkruptcy is a very powerful legal instrument....since it deals with all creditors equitably.

However, for a creditor to be dealt with, the Official Receiver needs to be made aware of the claim on hte Bankruptcy estate...so if owed, then contact the Official Receiver.


All unsecured debts that existed prior to the date/time of the Bankruptcy Order, fall into that Bankruptcy.

No creditor is permitted to pursue any unsecured [or perceived] debt subsequent to the Order.

If a creditor does decide to go through a Court, then the Bankruptcy Order is the ultimate defence....and any claim will be set aside.

It is wise, perhaps, before slating a Bankrupt individual for their perceived lifestyle, to research Bankruptcy itself, what happens, what it is? Then one doesn't fall into the trap laid by ignorance and urban myth?

Superherogirl

Thank you all. I will notify the receiver of my unsecured loans to the bankrupt and be added as a creditor. It was really helpful.

[Deleted User]

alastairq wrote: »

It is wise, perhaps, before slating a Bankrupt individual for their perceived lifestyle, to research Bankruptcy itself, what happens, what it is?

Excuse me but, when did I slate a bankrupt :huh:

wharty

Bedsit_Bob wrote: »

Excuse me but, when did I slate a bankrupt :huh:

I don't think it was aimed at you. I think it was what the OP said about the bankrupt having a BMW and a holiday.

[Deleted User]

wharty wrote: »

I don't think it was aimed at you.

It was in a post,which quoted only my post.

alastairq

Bedsit_Bob wrote: »

It was in a post,which quoted only my post.

.............and?

Your quote was dealt with.

Then, the remainder dealt with the OP.

[I notice no complaint regarding the other information given, which bore no relationship to your post, other than one particular observation?
However, the jist of what you complain about might even apply in your case?
If the cap fits?]