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  • FIRST POST
    • Chrissy888
    • By Chrissy888 9th Jul 18, 11:42 PM
    • 1Posts
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    Chrissy888
    Discharged from bankruptcy and IP asking for money
    • #1
    • 9th Jul 18, 11:42 PM
    Discharged from bankruptcy and IP asking for money 9th Jul 18 at 11:42 PM
    Hi

    Basically my husband went bankrupt in May 2017 due to being a guarantor. Discharged May 2018. Bought out equity in the house and no IPA set up.

    July 2018 he received an email from the insolvency practioner stating that he received 17,500 from his dad in May 2015 and they want it all back.

    Is it too late for them to act due to being discharged or are we still liable for this money?

    Thanks in advance
Page 1
  • National Debtline
    • #2
    • 10th Jul 18, 2:03 PM
    • #2
    • 10th Jul 18, 2:03 PM
    Hi Chrissy


    Your husband would not have to declare any assets he received after being discharged from bankruptcy. However if he received an asset prior to the bankruptcy order being made that the Insolvency Practitioner (IP) has only just become aware of it, it is possible for them to make a claim on it even though he has already been discharged.


    Your husband may need to seek more advice on this and I would recommend he gets in touch with one of the free advice agencies to discuss the situation and his options in more detail.


    Best wishes


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • AndyBSG
    • By AndyBSG 10th Jul 18, 3:13 PM
    • 962 Posts
    • 1,192 Thanks
    AndyBSG
    • #3
    • 10th Jul 18, 3:13 PM
    • #3
    • 10th Jul 18, 3:13 PM
    So he received the money two years before being declared BR?

    I honestly don't know how the OR could claim money that was long gone before the BR took place.

    I could understand if he received the money shortly before BR and the OR suspected it was deliberately disposed of prior to BR, or if it was received between the BR and discharge date, but not sure on what basis they would be claiming it back here.

    I assume the money was either gone or, if not, was declared during the BR?
    • mummyofboys1985
    • By mummyofboys1985 11th Jul 18, 2:00 PM
    • 76 Posts
    • 3 Thanks
    mummyofboys1985
    • #4
    • 11th Jul 18, 2:00 PM
    • #4
    • 11th Jul 18, 2:00 PM
    OR can and will claim anything they deem as an asset even 3 years before your bankrutcy date. However, if your bankruptcy was due to a guarantor loan then you could "maybe" try fight it. OR looks at assets years before bankruptcy because most insolvent people are aware its coming, so they could dispose of assets and OR has the power to get these back. Your case might be slightly different as you wouldnt have known 2 years in advance that the lending your guarantor on would default... if that makes sense?
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