Crosswords13 mins ago
About bankruptcy please ...
About 14 years ago I got a County Court Judgment (personally) against somebody who owed me around �800.00.
As part of the enforcement proceedings I obtained a charge against his house but he upped and left (did a runner) without leaving a forwarding address.
I never forgot him and googled his name a while ago and was fortunate enough to discover his present address.
I've got it in mind to re-commence enforcement proceedings. By a fluke, I was selling at an antiques Fair last weekend and he was walking round buying things with his (presumably) wife and a couple of children about 8-10 years old. I recognised him but don't think he recognised us as he stood at our stall for a while and there was no trace of recognition in his face. Like I said, he seemed to have money but when I googled him that evening, he'd been declared bankrupt just last month.
I suspect he's been bankrupted before (he's one of those guys who make a living by not paying bills). My question is this: As a creditor of his, should I have been notified of his bankruptcy? As I wasn't, am I entitled to ignore the banckruptcy when I do eventually feel the time is right to re-commence enforcement?
As part of the enforcement proceedings I obtained a charge against his house but he upped and left (did a runner) without leaving a forwarding address.
I never forgot him and googled his name a while ago and was fortunate enough to discover his present address.
I've got it in mind to re-commence enforcement proceedings. By a fluke, I was selling at an antiques Fair last weekend and he was walking round buying things with his (presumably) wife and a couple of children about 8-10 years old. I recognised him but don't think he recognised us as he stood at our stall for a while and there was no trace of recognition in his face. Like I said, he seemed to have money but when I googled him that evening, he'd been declared bankrupt just last month.
I suspect he's been bankrupted before (he's one of those guys who make a living by not paying bills). My question is this: As a creditor of his, should I have been notified of his bankruptcy? As I wasn't, am I entitled to ignore the banckruptcy when I do eventually feel the time is right to re-commence enforcement?
Answers
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1. You seem unsure what happened to the house. You ought to find out, but it is likely that if it was repossessed the sale price was insufficient for your charge to be paid off (i.e. the mortgage lender would have taken all the proceeds). However, you should have been notified at the time.
2. If he owns his present house and is bankrupt then he is at risk of losing it. If there are any proceeds (other than those to pay off the mortgage) then they would be shared between the creditors after the OR has covered his costs.
3. I assume you have found his entry on the online Insolvency Register. If so, you will know which Court he was bankrupted at & can find out which OR's office is dealing with him. As it was only last month, it could be that he put your debt down on the form but that the OR has not yet got round to contacting you. However, even if he did not put you down on the form your debt is included in his bankruptcy and you cannot chase it in any other way. Contact the OR & give details of the debt. But I suspect you are most unlikely to get any money.
2. If he owns his present house and is bankrupt then he is at risk of losing it. If there are any proceeds (other than those to pay off the mortgage) then they would be shared between the creditors after the OR has covered his costs.
3. I assume you have found his entry on the online Insolvency Register. If so, you will know which Court he was bankrupted at & can find out which OR's office is dealing with him. As it was only last month, it could be that he put your debt down on the form but that the OR has not yet got round to contacting you. However, even if he did not put you down on the form your debt is included in his bankruptcy and you cannot chase it in any other way. Contact the OR & give details of the debt. But I suspect you are most unlikely to get any money.
I don't truly have a great deal of faith in the Official Receiver's Office.
My last dealings with (another) debtor who went bankrupt was that the debtor threatened to trash the house if it was repossessed so the Receiver allowed him to keep it. To my mind the debtor should have been arrested for threatening behaviour and (if he had carried out the threat) criminal damage.
I feel the bankruptcy laws are loaded in favour of the debtor - and don't get me started on the more recent IVAs. Talk about a Crook's Charter. They actively encourage people to spend beyond their means safe in the knowledge that they won't ever be made to pay their debt in full. Let alone interest.
I would seriously have more faith in a guy with a baseball bat than the court system.
My last dealings with (another) debtor who went bankrupt was that the debtor threatened to trash the house if it was repossessed so the Receiver allowed him to keep it. To my mind the debtor should have been arrested for threatening behaviour and (if he had carried out the threat) criminal damage.
I feel the bankruptcy laws are loaded in favour of the debtor - and don't get me started on the more recent IVAs. Talk about a Crook's Charter. They actively encourage people to spend beyond their means safe in the knowledge that they won't ever be made to pay their debt in full. Let alone interest.
I would seriously have more faith in a guy with a baseball bat than the court system.
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