Both Bankrupt/ is this technically correct

[top1]

My wife and I were both made bankrupt by the debt collector the amount is £18000 however is this technically correct as I have been made bankrupt for £18000 and my wife has been made bankrupt for the same £18000 surely both cant be correct should it not be £9000 each. My reason for asking is if the claim was only for me then I could go down the preferred route of an IVA as I have accumulated other debts since being ill and out of work On the other hand my wife has no other debts apart from this £18000 therefore cannot go down the route of an IVA. Any immediate help would be much appreciated.

[bluebottle]

Re: Both Bankrupt/ is this technically correct

A few question as there appear to be some anomalies.

1. Is there a valid Bankruptcy Order in force?
2. Have the bankruptcies been published in the London Gazette?
3. Are the name of you and your OH showing on the Individual Insolvency Register (IIR) on the Insolvency Service website?
4. Is the Trustee in Bankruptcy authorised to act as a Trustee in Bankruptcy?

The courts are reluctant to grant a Bankruptcy Order for sums less than £20,000 and will often adjourn a Petition Hearing to allow something like an IVA to be set up or similar?

[top1]

Re: Both Bankrupt/ is this technically correct

Hello and thank you the answer to all the questions is yes however I am trying to go for an IVA however my wife cannot as it is her only debt and has been petitioned for bankruptcy which has been granted so can I assume that they will still go after her and wait a year then force the sale of our family home?

[bluebottle]

Re: Both Bankrupt/ is this technically correct

Something sounds very wrong here.

Some more questions -

1. Who ran up the debt?
2. What is the actual amount of the debt in total?
3. Who is the debt collector?

[Nibbler]

Re: Both Bankrupt/ is this technically correct

Assuming that the £18,000 was a joint debt so was subject to joint & several liability, then yes that sounds 'technically' correct. (fair or not) The full amount is a provable debt in both bankruptcies.

Is assume it is an FTIVA that has been proposed. https://www.gov.uk/options-for-payin...y-arrangements

[top1]

Re: Both Bankrupt/ is this technically correct

Thank you for your replies everyone! Yes we are trying for an IVA for myself however we are not sure at this stage if they will pursue my wife ultimately our home? Any suggestions on how we could resolve this would be much appreciated.
Both my wife and I have been recently made bankrupt, we have spoken to
a insolvency practitioner to see if there is a way forward without our
losing our family home. As my wife has no other debts we have been
advised that she cannot go down the route of an IVA.
As I have accumulated several other debts we understand that it may be
possible for me.
Our dilemma is that the amount required for Annulment on an original
debt of £18,300 is now £29,900.
To acquire this large sum in one lump is not possible! we do have
equity in our house and are both able to earn money.
What is the best course of action? is it to late for any arrangements
to be made with a charge over our house.
We would welcome a prompt reply as this is a most stressful time for us both.
Due to having an earlier brain haemorrhage and losing my job is the
only reason why we are in this situation not wreckless behaviour

[bluebottle]

Re: Both Bankrupt/ is this technically correct

Which debt collector is involved in this, please?

[top1]

Re: Both Bankrupt/ is this technically correct

Hello it is a company called Redwood collections Croydon then they instructed the solicitors.

[The bankrupt]

Re: Both Bankrupt/ is this technically correct

The courts are reluctant to grant a Bankruptcy Order for sums less than £20,000 and will often adjourn a Petition Hearing to allow something like an IVA to be set up or similar?[/QUOTE]

i got made bankrupt for an £1800 screwfix alleged debt