I believe that the law has been changed recently to a 3 year limit on the receivers ability to dispose of a bankrupts assets.
2006-07-31 22:58:24 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Unfortunately, when you were made bankrupt the 3 year did not apply and it wasn't passed retrospectively (i.e. it wasn't back dated) so it may be that you will have to surrender your property.
I would suggest talking to the Citizen's Advice Bureau to find out if you have a leg to stand on.
2006-08-01 00:25:14 · answer #1 · answered by nkellingley@btinternet.com 5 · 1⤊ 0⤋
Look at the government website for more advice. If this is the first time that the receiver has mentioned your property, then it does sound as if it's too long, but I suspect that he may well have claimed the right to it at the time, and is only now getting round to disposing of it. Normally he only has three years to do this, unless he's extended it.
2006-07-31 23:14:59 · answer #2 · answered by Graham I 6 · 0⤊ 0⤋
I toatally agree with 'OriginalBubble' you should speak to someone at citizens advice bureau who will be able to advise you to as to where you stand with the recievers and your property..I would surely think that there must be a time limit on the recievers ability to dispose of a bankrupts assets...
2006-07-31 23:11:56 · answer #3 · answered by maidenrocks 3 · 0⤊ 0⤋
It depends on where you live and on the bankruptcy court that heard your case.
This is a legal question best handled by a bankruptcy attorney. If there was a judgement made against you, the judgement can be renewed by making the appropriate petition to the court.
In some cases, the judgement can be renewed indefinitely.
2006-07-31 23:06:17 · answer #4 · answered by regerugged 7 · 0⤊ 0⤋
Bankruptcy now only last 12 months. The receiver cannot take property once your bankruptcy is spent, otherwise what is the point of bankruptcy. See a solicitor.
2006-08-01 07:24:18 · answer #5 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
As far as i'm aware - they cant get your house, unless you have a mortgage... You have a legal right to shelter - so you can have minimal posessions, clothes etc.. Not sure if you have a mansion though.... 5 - 6 years is normal - but is usually asked if you have "Ever" been bankrupt..
2006-07-31 23:58:23 · answer #6 · answered by want_to_explore_life 3 · 0⤊ 0⤋
I think that it would be 5 years at the most.
I know for credit purposes your bankruptcy would be discharged after 5 years.
Try citizens advice.
2006-07-31 23:05:33 · answer #7 · answered by OriginalBubble 6 · 0⤊ 0⤋
I know in Ireland it is one year and if nothing is done they cant do anything, dont know your situation in your country
2006-07-31 23:04:42 · answer #8 · answered by Anonymous · 0⤊ 0⤋
what are you poor now
oh no thats bad
why did you ever get into that situation dummy
2006-07-31 23:47:31 · answer #9 · answered by 67678687 8 1 · 0⤊ 1⤋