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bankruptcy issues on behalf of a friend

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  • bankruptcy issues on behalf of a friend

    Hi all, asking advice for a veterans widow. They were made bankrupt she thinks 2011 or 2012. Her husband passed away in 2015. She has received letters from Lloyds bank, giving details of a refund on interests and charges for two different accounts dated 8th July 2018. Id like to help her out as she is the founder member of a veterans club local to me. As you have all helped my wife and I out in the past with low life DCAs, plus with me applying for a law degree, I would like, if possible, to have some assistance. I did say she needs to register with Noddle just to have an idea of what closed accounts there are and open accounts. I would have thought, the original handlers of the bankruptcy would have listed all monies outstanding, even to banks. They lost their house with santander auctioning the house as it was too late, her husband, hid everything from his wife. Any help as to where i start would be appreciated, outstanding balances are approx 8500 with 2 separate accounts.
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  • #2
    Is it these letters refunding interest and charges that have shown a possible outstanding debt of 8500 ? It may well be it was dealt with in the bankruptcy and those refunds should actually go to the insolvency. Might be worth sending a SAR to whoever dealt with her bankruptcy AND send a SAR to Lloyds as well to find out what the exact situation is. If she went bankrupt in 2011/2012 her credit file may well be clear by now.

    These refunds, were they loans where the bank had failed to send certain documents/statements to her and thus lost the right to charge interest over a certain period ? or something different ? and joint accounts with her late husband or just in her late husbands name ?

    Might help to see the letters from Lloyds actually .. but a SAR is a good idea to get the history.
    Common Sense .... if in doubt, use it !

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    • #3
      Thank You, I will pass this on to her. I did mention an SAR. I will ask her when I see her again.

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      • #4
        A bankruptcy order made in 2010 or 2011 would have been discharged 12 months later, unless the debtor misbehaved and the trustee in bankruptcy/official receive made a court application to extend the term.
        Only debts incurred prior to the bankruptcy order are incorporated into the bankruptcy. All income - including windfalls - up to the end of the bankruptcy term are liable to be used to repay the creditors except that the bankrupt can keep everything he needs for the necessities of life and, if applicable, the necessities for earning his income.
        It's puzzling that there is talk of 8,500 apparently owing. If these debts were incurred prior to the bankruptcy order, then they are not repayable now. (Well, technically, they are repayable but creditors cannot compel a discharged bankrupt to pay.) If the debts were incurred after the bankruptcy, then the fact of the bankruptcy is not relevant.
        If the borrowing was in and/or the costs and interest were incurred on joint accounts, then your friend may be liable to pay. If they were in the sole name of the deceased husband, then they must be paid out of any funds within the deceased's estate but otherwise there is no liability to pay the bank.
        Most puzzling of all is your mention of 'refunds'. If that isn't a typo, then it would appear that the bank intends to make payment to your friend...

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