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Kevin Mapstone
Trust Deed Expert
1863 Posts |
 Posted - 01 May 2012 : 12:07:48
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Can't see how it would make any difference whether the debts were business-related or not. Maybe they are just trying to get to grips with the figures more closely to aid their understanding of the situation at the time. Given that you are relying on the value of assets in the business to prove your solvency then this is fair enough.
Were you in partnership with anyone else, bettertoburnout? |
*** Recommended Trust-Deed.co.uk Partner *** Click for Kevin’s help starting a Scottish trust deed:   |
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bettertoburnout
Contributor
10 Posts |
Posted - 06 July 2012 : 17:59:20
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| HI,NO I WAS A SOLE TRADER SO ALL THE DEBTS AND ASSETS WERE MINE. |
bb |
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pinalta
Advanced Contributor
100 Posts |
Posted - 06 July 2012 : 21:32:09
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Forgive me if this seems rather familiar . Have you posted on this theme before ?. I to have / are in the same situation , Maybe Mark can use edited extracts from my situation to help you , as it seems very similar . Never the less I will be looking to get my pound of flesh back . As very tired of being a victim and suffering ill health due to this . So will be claiming back , plus interest what was taken from me .
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bettertoburnout
Contributor
10 Posts |
Posted - 12 July 2012 : 10:14:38
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| Hi Pinalta,this has been ongoing for some time now,if you have been in the same situation I'm sure you know how distressing it is.We are dreading the letter from the trustees in case they dispute the figures and we have to go to court.We were due to finish the trust deed this november,but it could drag on for months more now and we have no idea if we are going lose our house or not.We can't afford legal advice as we earn too much,but all our money goes to payments to the trustees.Any advice would be appreciated. |
bb |
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Mark McFadyen
Trust Deed Expert
2988 Posts |
Posted - 12 July 2012 : 16:07:47
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Hi bettertoburnout
After you released the £50k and paid this to your debts, did you have other debts which remained unpaid or did this clear everything?
Mark |
*** Recommended Trust-Deed.co.uk Partner ***Click for Mark’s help starting a protected trust deed:  |
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bettertoburnout
Contributor
10 Posts |
Posted - 20 July 2012 : 10:31:54
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| Hi Mark,I still had debts of around £25,000 after I paid the £50,000.Most of this was accumulated because I was renting commercial premises and the sub tenant went bust leaving me large debts.The landlords would not let us out of the lease so I was paying rent on empty premises for 2 years. |
bb |
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Mark McFadyen
Trust Deed Expert
2988 Posts |
Posted - 20 July 2012 : 12:34:21
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Hi bb
I still don't get where the Trustee is coming from. Paying the £50k to your debts is not a Gratuitous Alienation. No argument.
Their only 'in' would be the transfer of the property into joint names and therefore the transfer of one half share of the property. If you can show you were solvent, includng the value of your one half share of the property after the transfer, then all routes for a successful action are closed.
Mark |
*** Recommended Trust-Deed.co.uk Partner ***Click for Mark’s help starting a protected trust deed: |
Edited by - Mark McFadyen on 20 July 2012 12:34:38 |
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gratuitous alienation