Just out of interest (forced sales of homes by trustees)

Rrushi_Shqiptar

I am just interested to know how many and if it is usual for people like myself to be made to sell their homes after BRO by the trustee.

I was told the trustee wanted to sell my home in November 2012, I was bankrupted December 2009.

MY ex wife (now) was given her 50% of the profit from the sale but I received nothing nor did any of my creditors because the trustee, Robert Cundy Ltd charged so much and the home secretaries payment (fine) was such that all left over monies were swallowed up in excess of £40,000

So thanks anyway Arrow global for making me BR all for 2k nobody got any money..

longtermplanner

Sad story. Those fees are shocking. But it is normal to have the house sold.

alastairq

So thanks anyway Arrow global for making me BR all for 2k nobody got any money..

however, they will be able to offset the losses due to the bankruptcy, so they'll be happy whatever.

debtinfo

Yes it is quite common that a house with £40,000 of equity would be sold. (how else would they get the money out of it?). This is a good lesson for other people in the same situation actually. The obvious question would be did you consider (given your desire in your OP to see the creditors get their money) selling your asset and paying the debts off yourself? for many people reading this who have an asset like this it is something they may want to consider and so avoid the bankruptcy altogether.