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Bankruptcy debt

Hi, I need some help on my dad's bankruptcy debt. He owe's £50,000 in creditors and bankruptcy in agency fees (in this case a company called Mazars). The debt is £20,000 but the fees to Mazar is £30,000. My brother has tried to get a loan to pay them, but he can't as its too much, so have other family members. We have asked them for an exact figure but they can not give us one as it has to be an estimated amount. They have sent us a breakdown but they want the full amount and then they will hold on to the money for 21 days for creditors to come forward. It might be more or it might be less, depending on how much some of them have increased. I am worried some of the creditors are incorrect as when I spoke to one, our debt with them was £3k less. Worried of getting more money being taken off us then there should be. Can anyone help out as to how we can deal with it and what best route to take? We may be able to raise 3rd party funds to pay the debt but if we sell, what are the chances of getting a decent rate as everything will go through Mazars, and we have no say on the sale? :(

Comments

  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Are you trying to annul a BR and save a house
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • Not sure what you mean, but we are trying to save the house.
  • Sonals7
    Sonals7 Posts: 3 Newbie
    Sorry, not annul. Worried the creditors debt aren't accurate and ways we can possibly reduce the fees
  • owlet
    owlet Posts: 1,510 Forumite
    Part of the Furniture Combo Breaker
    Has your Dad been made bankrupt?
    How come you don't have track of the debts?
    What have mazar done & why the high fee?

    Sorry, trying to make sense of your post , it's a very confusing read!
    Can you outline, perhaps using bullet points & more background info?
    SPC 8 (2015) #485 TOTAL: £334.65
    SPC 9 (2016) #485 TOTAL £84
    SPC 10 (2017) # 485 TOTAL: £464.80
    SPC 11 (2018) #485
This discussion has been closed.
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