2Nd Charge

Mouse007

I think you need to look at S269 Insolvency Act 1986


269 Creditor with security.

(1)A debt which is the debt, or one of the debts, in respect of which a creditor’s petition is presented need not be unsecured if either—

(a)the petition contains a statement by the person having the right to enforce the security that he is willing, in the event of a bankruptcy order being made, to give up his security for the benefit of all the bankrupt’s creditors, or

(b)the petition is expressed not to be made in respect of the secured part of the debt and contains a statement by that person of the estimated value at the date of the petition of the security for the secured part of the debt.

(2)In a case falling within subsection (1)(b) the secured and unsecured parts of the debt are to be treated for the purposes of sections 267 to 270 as separate debts.


As he petitioned for your bankruptcy he was required to either state (a) he was willing to give up his security or (b) exclude the secured amount.

By failing to do so the courts could take the view that he effectively gave up the security and that might be the basis of your case. He certainly failed to exclude the secured amount so the only other conclusion should surely be he surrendered it.

I would however suggest this is probably one for a solicitor (who understands insolvency law).

Burnedout77

Honestly, I think he forgot about the charge. The amount £34.5 was 20k + interest. I think it was 14%. It was a business thing. It was just a paper exercise. He was never meant to pull it.

Then he noticed the charge, and demanded the full amount, chancing his arm. But now he knows its there, he will try his damnedest to annoy me.

I’m searching for a quick solution to get him out of my life for good

silvercar

You are not going to be able to sell the property while this charge is in place, so better to get it dealt with now.

sourcrates

May be worth asking on legal beagles, I would expect them to concur with the advice received here.

debt_doctor

You could of course just do nothing.

If he wanted to enforce his charge (the one we believe he no longer has) then he would have to apply for an order for sale - at which point you can put your case. It would cost him to apply for an order for sale.

You also might want to say that continuing (more than once) to ask for monies to be paid that were part of your bankruptcy is harassment.

Just thoughts.....

Burnedout77

Doin nothing else is unfortunately not an option

Burnedout77

Hi guys. Just thought I’d give you an update

Filed an n244 form with my local county court
Put a small case together, with some of the pointers you’ve given me, and collated supporting evidence.
Case booked in for tomorrow at 12:15

Wish me luck

Ps if anyone knows of any cases where someone has failed to show there security on a bankruptcy petition, I’d be grateful to know

Ty

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