Are you bankrupt?

[mgv8]

Hi All
Just had a letter through the post saying someone that lives within 5 miles of me and has the same name is going bankrupt. It then goes on to ask my to confirm that I am not the same person (circle NO). Letter from the land registry.

Has anyone had this as it seems quite strange to me?

[SS2.]

Does this help ?

[AndrewEH1]

mgv8 said:

Hi All
Just had a letter through the post saying someone that lives within 5 miles of me and has the same name is going bankrupt. It then goes on to ask my to confirm that I am not the same person (circle NO). Letter from the land registry.

Has anyone had this as it seems quite strange to me?

Sold a house last year - the sellers made me sign a document stating I wasn't a person who has the same name as me who also lived within about 5 miles.

I suggest calling them up for further clarification but the idea doesn't completely surprise me

[mgv8]

Thanks

[GipsyHillClimber]

SS2. said:

Does this help ?

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

Some of the figures are startling, one lady had misappropriated over a million pounds and quite rightfully(understandably?) went bankrupt when found out, someone else a week earlier went bankrupt because of a £4000 unsecured debt.

[carinaman]

GipsyHillClimber said:

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

Some of the figures are startling, one lady had misappropriated over a million pounds and quite rightfully(understandably?) went bankrupt when found out, someone else a week earlier went bankrupt because of a £4000 unsecured debt.

Indeed, reminds me of that case. Seems Solicitors can use Partners for quite basic insolvency stuff increasing fees and therefore the debt owed:

https://www.bbc.co.uk/news/stories-45581526

https://www.bbc.co.uk/programmes/b0bksgnc

At least one decent Lawyer got involved and did the correct thing.

[mike74]

GipsyHillClimber said:

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

Some of the figures are startling, one lady had misappropriated over a million pounds and quite rightfully(understandably?) went bankrupt when found out, someone else a week earlier went bankrupt because of a £4000 unsecured debt.

Not sure what is so ''unfortunate'' about some feckless and irresponsible spendthrift living the life of Riley on a stload of unsecured debt then just getting it all written off?

[Graveworm]

mike74 said:

Not sure what is so ''unfortunate'' about some feckless and irresponsible spendthrift living the life of Riley on a stload of unsecured debt then just getting it all written off?

If all bankruptcy was like then nothing. It is like a lot of things open to abuse. That should be clamped down on. However it must help promote responsible lending and debt collection. It also means that, feckless or not, it's not the end of their life for someone with debts they can never satisfy; who, otherwise, would be worse off than someone who stole the money.
I doubt it's an easy process and it will have serious long term repercussions for anyone who goes through it. I don't think we want debtor prisons back.

[Saleen836]

Graveworm said:

mike74 said:

Not sure what is so ''unfortunate'' about some feckless and irresponsible spendthrift living the life of Riley on a stload of unsecured debt then just getting it all written off?

If all bankruptcy was like then nothing. It is like a lot of things open to abuse. That should be clamped down on. However it must help promote responsible lending and debt collection. It also means that, feckless or not, it's not the end of their life for someone with debts they can never satisfy.
I doubt it's an easy process and it will have serious long term repercussions for anyone who goes through it. I don't think we want debtor prisons back.

Am I imagining things or did they change the rules on bankcruptcy years ago to prevent students who were declaring themselves bankcrupt to get their student debt written off?

Edited by Saleen836 on Saturday 2nd March 12:27

[Graveworm]

Saleen836 said:

Am I imagining things or did they change the rules on bankcruptcy years to prevent students who were declaring themselves bankcrupt to get their student debt written off?

There are a few categories of debt including those that aren't covered. Generally it excludes fraud or debt that was already means tested.

[Sheepshanks]

SS2. said:

Does this help ?

I wonder where the 5 miles thing comes from?

The linked webpage just says "People may own more than one property and those properties could be in any part of England or Wales."

[caziques]

mike74 said:

Not sure what is so ''unfortunate'' about some feckless and irresponsible spendthrift living the life of Riley on a stload of unsecured debt then just getting it all written off?

Or perhaps a corrupt solicitor wins a court case with perjury and lies and is awarded £22,000 in "costs", (and perhaps this is the third time he's done it).

[macushla]

Interesting. I sold a house on a small cul-de-sac about 5 years ago and purely by coincidence shared a surname with two neighbours (and the same initials with one). Nobody asked me anything when I sold.

[Meoricin]

macushla said:

Interesting. I sold a house on a small cul-de-sac about 5 years ago and purely by coincidence shared a surname with two neighbours (and the same initials with one). Nobody asked me anything when I sold.

And your neighbours were bankrupt?...

[macushla]

Meoricin said:

And your neighbours were bankrupt?...

No but the third comment on here referenced selling a house and nothing about bankruptcy.

[BobSaunders]

GipsyHillClimber said:

SS2. said:

Does this help ?

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

I 'sadly' took great enjoyment in reading the granular insolvency of a school bully and his business that frequented my old school. The guy and family was a proper horrible piece of work, and he continued to be a piece of work by all accounts post school. Enjoyable.

[Sheepshanks]

GipsyHillClimber said:

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

Some of the figures are startling, one lady had misappropriated over a million pounds and quite rightfully(understandably?) went bankrupt when found out, someone else a week earlier went bankrupt because of a £4000 unsecured debt.

Where did you find such detail?

[S6PNJ]

GipsyHillClimber said:

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

Where would someone find such info? I've found the register but there doesn't seem to any link to the case details?
https://www.gov.uk/search-bankruptcy-insolvency-re...
https://www.insolvencydirect.bis.gov.uk/eiir/

[James P]

S6PNJ said:

GipsyHillClimber said:

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

Where would someone find such info? I've found the register but there doesn't seem to any link to the case details?
https://www.gov.uk/search-bankruptcy-insolvency-re...
https://www.insolvencydirect.bis.gov.uk/eiir/

I don’t know of case details being published as a matter of course. When further action is taken sometimes the reports do set out detail of the persons conduct that led to the action and outcome. Think it’s on the Insolvency Service website and they do also tweet these cases regularly.

[GipsyHillClimber]

James P said:

S6PNJ said:

GipsyHillClimber said:

I didn't know, until reading this link that insolvency is a matter of public record. I've just spent a very interesting half hour or so going through the records of bankruptcy outcomes. Reading them feels like looking at a car crash, horrendous that somebody had been so unfortunate but fascinating all the same.

Where would someone find such info? I've found the register but there doesn't seem to any link to the case details?
https://www.gov.uk/search-bankruptcy-insolvency-re...
https://www.insolvencydirect.bis.gov.uk/eiir/

I don’t know of case details being published as a matter of course. When further action is taken sometimes the reports do set out detail of the persons conduct that led to the action and outcome. Think it’s on the Insolvency Service website and they do also tweet these cases regularly.

It was indeed the Insolvency Service website through this link
https://www.insolvencydirect.bis.gov.uk/IESdatabas...

Only a relatively small amount of information on each but there are details on the size and source (to a degree) of the liability.