Posted: Fri Sep 07, 2007 8:03 am
I wonder whether any of the experts could help here.
You may recall my ongoing saga of a successful IVA that was scuppered by an old liability to shop lease.
I have now managed to re-motgage so that I may offer a full and final to my creditors on the basis of the return they would have received via the IVA. The plan was to include my new creditor (my Landlord) in with the other creditors, however the Landlord beat us to it and managed to place a charge on the property so at the point of re-mortgage he received his full share of £12,000 debt. This still leaves enough monies to offer the existing creditors the same full and final. I am really miffed by this as I wanted to treat all my creditors equally and fairly.
The question is though that I will essentially, in essence, have the ongoing liability for the lease payments if the Landlord pushes for this (£1,125 p.m). This will mean that my outgoing exceeds my income. The Landlord has been adverstising the premises for let for a few months now but I understand that even if a new tenant comes along (which is higly unlikely for some time time due to the degeneration of the area)the liability for the lease can still come back to me at ANY TIME in the future unless a new lease is drawn up.
Can I still petition for bankruptcy on the basis of having no other debt except the the finacial libality for a lease?
Many thanks in anticipation.
Debbie
You may recall my ongoing saga of a successful IVA that was scuppered by an old liability to shop lease.
I have now managed to re-motgage so that I may offer a full and final to my creditors on the basis of the return they would have received via the IVA. The plan was to include my new creditor (my Landlord) in with the other creditors, however the Landlord beat us to it and managed to place a charge on the property so at the point of re-mortgage he received his full share of £12,000 debt. This still leaves enough monies to offer the existing creditors the same full and final. I am really miffed by this as I wanted to treat all my creditors equally and fairly.
The question is though that I will essentially, in essence, have the ongoing liability for the lease payments if the Landlord pushes for this (£1,125 p.m). This will mean that my outgoing exceeds my income. The Landlord has been adverstising the premises for let for a few months now but I understand that even if a new tenant comes along (which is higly unlikely for some time time due to the degeneration of the area)the liability for the lease can still come back to me at ANY TIME in the future unless a new lease is drawn up.
Can I still petition for bankruptcy on the basis of having no other debt except the the finacial libality for a lease?
Many thanks in anticipation.
Debbie