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  #11  
Old 15-03-2008, 04:33 PM
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grimbell grimbell is offline
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Hi

That is what my hubby did the other day when he applied for an account with Nat West.

The question asked if you have been bankrupt and he said yes. When he went into the bank though and talked to someone she said that the question was worded wrong and he was quite within his rights to answer no so he did and then he got the account.

Surely onnce the 6 year period has passed then that is correct as nothing now shows on a search.
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  #12  
Old 16-03-2008, 03:51 PM
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Quote:
Originally Posted by sparkie1723 View Post
Did you know you can make someone bancrupt for 500??
I think it is 750?
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  #13  
Old 16-03-2008, 03:54 PM
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off topic but relevant to bankrupt.

do you lose your only home if you are made bankrupt?

i ask because i read that you are given 1 year in your home, but nowadays bankrupts can be discharged after 1 year.

others have stated you can keep your home as they don't want to make people (with children) homeless etc.
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  #14  
Old 16-03-2008, 07:48 PM
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What happns most of the time tiff is that a trustee is appointed and that trustee places a charging order on your home, you continue to live there pay your mortgage or what ever but when you die, the trustee takes the home and sells it and has the proceeds, because interest is added to the original debt over the years.
The most annoying thing about this is the original debtor never gets the full debt money, its the trustee who gets it because he has "bought" your debt cheap....just like a DCA buys a credit card debt or whatever.

These trustees are normally accountantcy firms, they make a lorra money. and are leeches.

regards bancruptcy 500 or 750 it could be 750 now it was only 100, 10 15 years ago.

sparkie
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  #15  
Old 16-03-2008, 07:55 PM
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Quote:
Originally Posted by sparkie1723 View Post
What happns most of the time tiff is that a trustee is appointed and that trustee places a charging order on your home, you continue to live there pay your mortgage or what ever but when you die, the trustee takes the home and sells it and has the proceeds, because interest is added to the original debt over the years.
What if you pay your mortgage off or can clear it after some time, before you die?
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  #16  
Old 16-03-2008, 07:59 PM
sparkie1723 sparkie1723 is offline
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Trustee still has it tiff.
You can sell if you have more equity, than the trustees debt, but that doesn't happen very often their charges for being trustee are enormous they are the ones who win 100% every time

sparkie
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  #17  
Old 16-03-2008, 08:06 PM
tifonet tifonet is offline
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OK thanks,

I was giving the option a thought but it's no good. I have around 170k equity (which i can't release due to credit score).

Lowell have sent me a 'bankruptcy petition' letter and i suspect they may send a SD next, despite no CCA compliance for over a year, no CPR compliance (pre action protocol) for over 2 months and ignoring all letters i send them for over 6 months now.

Can i use any demand they send to my advantage?
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  #18  
Old 16-03-2008, 08:40 PM
sparkie1723 sparkie1723 is offline
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Without all the details tiff I can't give my views ( even then I could be wrong..I have been many times before) but at first thoughts if they are not following proper procedures I think that will certainly give them major dificulties in progressing with their course of action(s).

One thing I can say be very careful about filing for voluntary bancrutcy, take REAL legal advice before taking any steps in that direction.

sparkie

Last edited by sparkie1723 : 16-03-2008 at 08:43 PM.
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