Bankruptcy

[Openlaw15]

Re: Bankruptcy

Thanks open law
but i think we have misunderstood each other....it is not a transfer. Just a trust
i am a trustee who holds the property for my mother who has full beneficial ownership and i have declared as such

did you read the hmrc link?

Has anybody confirmed that the trust of land is now active? It would seem that where there has been no transfer of land it doesn't require a deed.

[Mmmmm1]

Re: Bankruptcy

Hi openlaw
what do you mean if it is active? Who confirms that? I dont understand
we just signed that trust in 2008 and it store it with the rest if the property documents. We have done nothing else. As far as my research into this indicates that a deed or a declaration of trust becomes active as soon as its signed and executed
thanks

[Openlaw15]

Re: Bankruptcy

Hi openlaw
what do you mean if it is active? Who confirms that? I dont understand
we just signed that trust in 2008 and it store it with the rest if the property documents. We have done nothing else. As far as my research into this indicates that a deed or a declaration of trust becomes active as soon as its signed and executed
thanks

signed writing should be ok in 2008 as far as formalities go

[Mmmmm1]

Re: Bankruptcy

Thanks for your help Openlaw
can i ask..is there any way to delay or put off any possible bankruptcy
they already have an order for costs
should i call the courts and arrange some sort of payment plan???
it wont be much since im unemployed at the moment

[wales01man]

Re: Bankruptcy

Try to arrange a payment plan if you own the house they may put a charge on it to secure the debt better than the hassle of going Bankrupt

[Mmmmm1]

Re: Bankruptcy

Thankyou walesman
it would only be a small token payment amount so im not sure if they will accept

also there were two of us in the car accident who were seriously injured so there are two claimants. The accident happened many many years ago and . I am not in touch with the other claimant anymore. But the the solicitors are chasing me for the full amount. Can they do this..? Should i not just be liable for my share of the costs?

the judgement order for costs names both claimants

[Openlaw15]

Re: Bankruptcy

Thanks for your help Openlaw
can i ask..is there any way to delay or put off any possible bankruptcy
they already have an order for costs
should i call the courts and arrange some sort of payment plan???
it wont be much since im unemployed at the moment

How much is the debt worth? If it's less than 20k, consider a Debt Relief Order? Costs about £90, apparently the 'surplus income' permitted is quite generous. Are you therefore on state benefits?

[Kati]

Re: Bankruptcy

[MENTION=48934]Debt Camel[/MENTION] has a great (easy to understand) section on "Debt Solutions" on her website - http://debtcamel.co.uk/debt-options/

have a look through and see what you can figure out xx

[Mmmmm1]

Re: Bankruptcy

Hi open law. Yes i am on benefits
and must i pay costs for both claimants?

[Mmmmm1]

Re: Bankruptcy

Thank you kati.. I did have a look and i think with the costs of attempting to set aside takes me over this threshold, obviously if i owe only my share of the costs then i will be under 20k but im not sure if i must pay all the costs for both claimants or just my share of it?

also debt camel says various legal debts cannot come under bankruptcy or dro. Doesnt specify which.....is this not a legal debt? Can it be included in bankruptcy?

[Openlaw15]

Re: Bankruptcy

Hi open law. Yes i am on benefits
and must i pay costs for both claimants?

Follow Debt Camel's link above as she has experience in this area, I believe at least several years Citizens' Advice Bureau experience amongst other things. I am sure she'll put you in the right direction as far as bankruptcy and debts are concerned.

[Kati]

Re: Bankruptcy

Thank you kati.. I did have a look and i think with the costs of attempting to set aside takes me over this threshold

also debt camel says various legal debts cannot come under bankruptcy or dro. Doesnt specify which.....is this not a legal debt? Can it be included in bankruptcy?

I've tagged DC, so she should pop on to give you advice :nod: Hang tight, you'll get all the advice you need xx

[Openlaw15]

Re: Bankruptcy

Hi all.

I have a very large debt for solicitors costs. They already have a judgement against and a default order of costs

the circumstances are

a number of years back i was involved in a serious car accident and made a claim for injury.. As the court case began i became seriously ill ( not related to the accident) the claim became secondary and i did not follow through correctly with the case and so lost it. The other side went for costs amonting to 20000, ( the insurance for no win no fee are not paying)

as i have recovered somewhat i am trying to rectify huge problems my illness caused.... I applied to the courts for a set aside based on my illness which has just been rejected by the judge... The other side are now threatening bankrupcy....

there is a house at risk..it is not mine but is in my name.. I hold it for my mother. Iam also on benefits please help. Thankyou

How long ago was the personal injury case? Why didn't your lawyers shield you against costs? Were you aware at the time that 'no win, no fee' term did not include insurance for 'costs' in the event of losing?

[Mmmmm1]

Re: Bankruptcy

Hi openlaw. It started about 6 years back...but suffered serious mental health problems in the mean time which i have recovered from ( but which i have recovered from now)

the no win no fee did include insurance but they have refused indemnity on the basis that i did not do as requested to by my solicitor..but i couldnt at the time due to my illness

[Openlaw15]

Re: Bankruptcy

Hi openlaw. It started about 6 years back...but suffered serious mental health problems in the mean time which i have recovered from ( but which i have recovered from now)

the no win no fee did include insurance but they have refused indemnity on the basis that i did not do as requested to by my solicitor..but i couldnt at the time due to my illness

What was the thing you were supposed to do but could not do owing to your disability? The law can't burden you for things you cannot do, as that would be against the democratic institution that is the rule of law. This seems very unfair - it is in effect indirect discrimination by the lawyers as mental health problem is disability under the Equality Act and its predecessor statutes. I would look into taking this to a legal ombudsman by making a complaint. They may be able to sort this out for you.

Do you have this indemnity clause in writing?