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    • Robin-o'-the-Hood
    • By Robin-o'-the-Hood 12th May 18, 7:49 AM
    • 116Posts
    • 40Thanks
    Robin-o'-the-Hood
    Friend falsified house valuation
    • #1
    • 12th May 18, 7:49 AM
    Friend falsified house valuation 12th May 18 at 7:49 AM
    Don't want this to be a long thread so will bullet point!
    - A work colleague of mine (earning 31K! to me that's a lot) and her husband were looking at going bankrupt.

    - As they stood to lose their house my colleague took the estate agent's house valuation and altered it to show negative equity.

    - They bought the house back for 1 at the bankruptcy to keep living in it. (Didn't really follow how this was possible...wine had been consumed, wine which had loosened her tongue. (This is the same person I've mentioned in another thread in the Benefits section about not declaring her current partner for tax credits purposes)

    - When they split up later my colleague could not pay the mortgage herself so the house was sold presumably at market rate (to a landlord who rented it back to my colleague so she could remain living there)

    To be blunt I am utterly appalled that this was done...I'd love to fraudulently live in a nice detached house! And yes, I am thinking of reporting it. How serious a crime (assuming it is a crime) is the falsifying of documentation put before a bankruptcy hearing?
Page 1
    • TheGardener
    • By TheGardener 12th May 18, 8:52 AM
    • 2,302 Posts
    • 2,201 Thanks
    TheGardener
    • #2
    • 12th May 18, 8:52 AM
    • #2
    • 12th May 18, 8:52 AM
    Hi. Although your post is obviously BR related, on this particular forum board we strive to be non-judgemental and seek to help people who are desperate and worried about their lives and finances. As a close-knit community of board posters, most of us have experienced BR first hand and provide support to others going though the BR system. We don't condone or promote any views that are designed to evade responsibility or act illegally.
    If you feel you have genuine concerns about someone who may have acted illegally, contact the local Insolvency Office and speak to them. Judging a 'friend' on a casual boozy conversation to the point you are prepared to report them to an IS official may be fraught with problems but you should do what you believe is the right thing to do.
    Last edited by TheGardener; 12-05-2018 at 8:56 AM.
    • Flyright
    • By Flyright 12th May 18, 8:54 AM
    • 322 Posts
    • 181 Thanks
    Flyright
    • #3
    • 12th May 18, 8:54 AM
    • #3
    • 12th May 18, 8:54 AM
    If their actions deprived the bankruptcy estate of an asset then you should report it to the Official Receiver.
    • silvercar
    • By silvercar 12th May 18, 9:05 AM
    • 37,218 Posts
    • 156,802 Thanks
    silvercar
    • #4
    • 12th May 18, 9:05 AM
    • #4
    • 12th May 18, 9:05 AM
    I suspect your friend's alcoholic consumption made them slightly forgetful of the the facts.

    I doubt one estate agent valuation, sent via the bankrupt would be sufficient. At the very least the OR would do their own checks; even zoopla / rightmove provide very easy verification.

    Buy back of the beneficial interest would cost a few hundred in legal costs at the very least.

    A sale of a property achieving market value would be with vacant possession. Sale and rent back has been illegal for quite a few years now. Even if this slipped through the net, no-one gets full market value on a sale and rent back deal.

    You could be generous and say your friend is forgetful, or that the effect of the alcohol has an impact on their story telling. Or you could say they are lying to impress.
    • Harbour Hopeful
    • By Harbour Hopeful 12th May 18, 11:26 AM
    • 5 Posts
    • 7 Thanks
    Harbour Hopeful
    • #5
    • 12th May 18, 11:26 AM
    • #5
    • 12th May 18, 11:26 AM
    Don't want this to be a long thread so will bullet point!
    - A work colleague of mine (earning 31K! to me that's a lot) and her husband were looking at going bankrupt.

    - As they stood to lose their house my colleague took the estate agent's house valuation and altered it to show negative equity.

    - They bought the house back for 1 at the bankruptcy to keep living in it. (Didn't really follow how this was possible...wine had been consumed, wine which had loosened her tongue. (This is the same person I've mentioned in another thread in the Benefits section about not declaring her current partner for tax credits purposes)

    - When they split up later my colleague could not pay the mortgage herself so the house was sold presumably at market rate (to a landlord who rented it back to my colleague so she could remain living there)

    To be blunt I am utterly appalled that this was done...I'd love to fraudulently live in a nice detached house! And yes, I am thinking of reporting it. How serious a crime (assuming it is a crime) is the falsifying of documentation put before a bankruptcy hearing?
    Originally posted by Robin-o'-the-Hood
    I'd love to fraudulently live in a nice detached house!

    The quote in bold is essentially an admission of envy for their allegedly illegitimately obtained success with the house and whatever else.

    If you are going to report them, do it for the right reasons. I personally do not believe fraud should be a police matter, but a civil one, however since it is a criminal matter, report it if you feel morally obligated.
    • debt doctor
    • By debt doctor 12th May 18, 11:32 AM
    • 4,253 Posts
    • 5,932 Thanks
    debt doctor
    • #6
    • 12th May 18, 11:32 AM
    • #6
    • 12th May 18, 11:32 AM
    Or you could say they are lying to impress.
    Originally posted by silvercar
    Yes, seen that a few times - Those who sometimes are embarrassed
    at their situation will come up with a story of how they 'bucked the system' so they can feel they came out winning. It's often a protection mechanism to attempt to cope with how they really feel.

    It would have been an incredibly negligent OR who took the value of the property without any independent check of their own.

    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
    • exlews
    • By exlews 13th May 18, 10:54 AM
    • 3 Posts
    • 1 Thanks
    exlews
    • #7
    • 13th May 18, 10:54 AM
    • #7
    • 13th May 18, 10:54 AM
    Life is too short. Just move on with your own life.
    • lynz68
    • By lynz68 13th May 18, 12:42 PM
    • 317 Posts
    • 303 Thanks
    lynz68
    • #8
    • 13th May 18, 12:42 PM
    • #8
    • 13th May 18, 12:42 PM
    I'm sorry but none of this is actually any of your business. On the basis of a drunken conversation your prepared to report a friend .......I would not call that the action of a friend sounds more like your jealous.

    In reality your friend has lost there home they may still be living in it for now but the landlord at some point can ask them to leave.

    Maybe be a bit more empathetic you clearly have no idea of your friends full situation.
    • sourcrates
    • By sourcrates 13th May 18, 1:04 PM
    • 14,011 Posts
    • 13,265 Thanks
    sourcrates
    • #9
    • 13th May 18, 1:04 PM
    • #9
    • 13th May 18, 1:04 PM
    I have to echo the comments above made by "The Gardener".

    These forums are here to help people going through a tough time in there lives, not to make presumptions of wrong doing from "boozy conversations".

    I fear there may be more of a personal involvement here stoking this particular fire, my advice would be forget you ever heard anything, and move on.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • z1a
    • By z1a 13th May 18, 7:08 PM
    • 1,253 Posts
    • 1,193 Thanks
    z1a
    If you're her friend, she must have some pretty evil enemies!
    • Samsung_Note2
    • By Samsung_Note2 14th May 18, 4:14 PM
    • 407 Posts
    • 164 Thanks
    Samsung_Note2
    If you're her friend, she must have some pretty evil enemies!
    Originally posted by z1a
    The OP sounds jealous and envious...glad they are not my friend.
    If my appalling spelling offends you that much...dont read my posts.
    • MEM62
    • By MEM62 15th May 18, 10:44 AM
    • 1,572 Posts
    • 1,193 Thanks
    MEM62
    If you're her friend, she must have some pretty evil enemies!
    Originally posted by z1a
    My first thought! Some 'friends' you don't need.
    • eidand
    • By eidand 15th May 18, 12:42 PM
    • 10 Posts
    • 9 Thanks
    eidand
    some friend you are ...
    • moneyistooshorttomention
    • By moneyistooshorttomention 15th May 18, 12:49 PM
    • 15,596 Posts
    • 43,326 Thanks
    moneyistooshorttomention

    To be blunt I am utterly appalled that this was done...I'd love to fraudulently live in a nice detached house! And yes, I am thinking of reporting it. How serious a crime (assuming it is a crime) is the falsifying of documentation put before a bankruptcy hearing?
    Originally posted by Robin-o'-the-Hood
    a. Yes I would report it.
    b. I wouldnt want her as a friend personally.
    Last edited by moneyistooshorttomention; 15-05-2018 at 12:51 PM.
    Like Frankie said - I did it my way.
    It's MY life......
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