Owed money in bankruptcy

mamitetoastie

I'm owed some money in a bankruptcy over £10k i'm a single mother who did a friend a favour and it backfired majorly.  The person has delayed this for years, keeping their expensive house, car & international lifestyle going.  They owe over a million and it's finally come to the crunch.

A relative has bought out their capital in their house, so they're going to keep the house.  Their car has been discounted out of the estate by the bankruptcy people.  Their shares have mysteriously "disappeared".  There's nothing left.  They have jewellry, art, macbook, lived a lavish lifestyle, furniture designer clothes, travelling for the past 6 years, mocking everyone they owed money by  Setting up IVAs and moving debt companies when they didn't make payments.  I feel so angry that they have continued to lie and delay this and now will keep everything and pay back almost nothing.
Is there anything I can ask to be included in assets like furniture, electronics and jewellry?

BJV

I am so sorry. 

I don't have any words of wisdom just to say someone did something not too different to me. Mine was £6000. I never got it back. It was a builder I knew who was waiting for a cheque to clear so he could pay the staff wages and I fell for it.

You are not alone.

Equally I know that this wont bring the money back. 

I am sure someone will be along soon to give you some legal guidance. Just a thought but do you have any proof? If so perhaps you could show the people in charge of the IVA's ?????

MEM62

Your 'friend' seems to have been very adapt at avoiding their debts and have now played a trump card - bankruptcy.  In order to recover anything you would have to prove the debt then get in line with all the other creditors.  Regrettably, it is likely that your money is gone and you will not see it again.  Any time, expense or emotional effort you put into trying to recover it will be wasted.  Perhaps its time to draw a line under this, chalk it up to experience and move on. 

These forums are full of posts from those who have had a similar experience which is why the general advise is given never to lend money to friends and family.  They are just not a good mix.    

sourcrates

Unfortunately it only takes some careful pre-planning to avoid bankruptcy having too detrimental an effect on you. 

Katie Price is a prime example, all you need do is ensure large assets are bought in the name of a 3rd party, Mother/Son/Brother etc, right from the offset, so when the inevitable happens, they cannot be accused of disposal of assets, as they were in another name all along.

The OR can be ruthless in pursuit of assets, but these people who play this game can be equally as canny in hiding them, if you know what you are doing, you can get away with virtually anything.

fatbelly

You started by saying this person had gone bankrupt, then mentioned IVA

If you want to check then they will be on the insolvency register

https://www.insolvencydirect.bis.gov.uk/eiir/

This will also show who is administering them.

Assuming this is bankruptcy then you should make sure you are known as a creditor and supply the OR with any information you have about assets and conduct in the lead-up to being declared bankrupt