No more assets, br query........

[chris.g]

We've had notification that our old house has been sold so we no longer have any assets. [:D]
Our br had been passed to the RTLU a couple of months ago and I'm under the impression that they deal with the br when there are assets waiting to be realised. Now that we no longer have assets I was wondering if anyone thought that we would get an early discharge? I know it's up to the OR to discharge early but was just wondering if in this situation they tend to discharge early. We have no IPA/IPO in place.

[Viki.W]

I can't answer but I'm glad things are moving for you. I really hope you get early discharge.....NOW! X

[chris.g]

So do I.... We're seriously looking into emmigratiing and to put this behind us sooner rather than later would be a huge help. We have to be of good character so the longer we are discharged when we apply for the visa the better...

[kallis3]

Chris, I hope you get things sorted soon. You are doing the right thing looking to get out of this country.

If I was twenty years younger, I'd be doing the same.

[jane.l]

I was discharged after just 6 months and our old house is still up for sale [:0]

[chris.g]

I suspect we will have to go the full 12 months. I'm just pleased that the house has sold. Only thing is, while this sites been down I've been using the br site and it seems that you have to make the OR aware that you think your house is in negative equity by writing it on your petition. The problem is we didn't as we thought it would go for £100k and it's only gone for £75,500.....which is less than what was secured against it! I'm a bit concerned now so think I will have to contact the RTLU who is now dealing with our br's....oh well, who said br was the easy way out????

[jane.l]

I am sure it would be covered, but I would contact OR just to inform them, if I were you![:)]

I have actually just looked on the estate agent's website who are selling my old house, and it says Under Offer! So that means it will be sold soon and I just bet NR and Picture come chasing us again for this shortfall, they insist it is not covered by bankrupcty and we have to pay, but the OR says otherwise! [:(!] It is just annoying, I mean, Picture actually had the cheek to ring hubby at his work AFTER bankrupty asking for payment for the secured loan and he had to put the phone down on 'em 'cos they would take no for an answer and said bankruptcy does not count!

Let 'em try, I say[}:)]

[kallis3]

I'm sure some of these people don't understand what bankruptcy is! I'm sure I've read on here that Tesco say they don't recognise br!!!!!!!!!!!!

[chris.g]

Jane, I remember your posting about Picture and I contacted the OR then about shortfall. She assured us that any shortfall would be absorbed but the way my luck is going at the moment I have to make sure!! Things are just going from bad to worse at the minute, it would be our luck to have to deal with all this cr*p aswell......

[jane.l]

Yes, this is the only worry I have about bankruptcy at the moment, I really do feel as though this is all in the past now, we are both discharged, no IPA and are not even on the Insolvency Register anymore, it feels like it was all a bad dream! If only!..

However, I would be VERY surprised if NR and Picture never contact us again, I really feel they will and its horrid "waiting" for them to pop up again!

Someone I know went bankprupt over a mortgage shortfall debt and even now, 2 years later, he is getting calls about this debt! They just never seem to give up, these secured loan companies [:(!]

[chris.g]

The trouble is, as with you if I remember rightly, our OR seems as if they either don't know or don't care! Looking on the other posts regarding what they have had to provide and what they have been told by their OR we have had nothing like that. I only found out that we had been transferred when I needed to contact her about something, she just referred me to the RTLU and said I was to deal with them if I had any queries etc..... Very poor service and I suspect it was because we weren't able to pay an IPA/IPO. Oh well, these things are sent to try us and that is exactly what they are doing.... lol

[kallis3]

The upside is that you will come out of this a much stronger person Chris!

[chris.g]

Yeap, I'm hoping that I do....I know something though, I'll never get in debt again....save and be safe is my motto regarding money now....think I'll copyrite that motto....lol

[Viki.W]

I agree with Ladyh. I hope it's all good news Chris. X

[MelanieGiles]

The sale of assets does not necessarily mean you would get an early discharge - as this is only granted with the discretion of the OR and there are no grounds for it other than them wanting to close down cases quicker.