START­ING OVER

Stockport Express - - Home Advice -

I WAS de­clared bank­rupt in 2015 and dis­charged the fol­low­ing year. I’m now told that the trustee in bank­ruptcy is en­ti­tled to any money or as­sets I have made. Is this cor­rect? Your dis­charge from bank­ruptcy means you are re­leased from li­a­bil­ity to meet the debts that led to your bank­ruptcy. The trustee will still own any as­sets (sub­ject to any statu­tory ex­cep­tions) or cash you owned at the time you were de­clared bank­rupt. Be­ing dis­charged does not mean you can re­claim those as­sets. In­deed trustees will of­ten come after your share of the matrimonial home after you have been dis­charged from bank­ruptcy, although the trustee only has a lim­ited time pe­riod for that. Any as­sets you have bought since your dis­charge will be your own, how­ever, un­less it can be shown they were pur­chased with money that was not de­clared and which you owned whilst you were bank­rupt.

»»Call Brom­leys Solic­i­tors LLP on 0161 330 6821 or visit www.brom­leys.co.uk If you have any le­gal ques­tions, write to Prop­erty Law, MEN Me­dia, Mitchell Henry House, Hollinwood Av­enue, Chad­der­ton OL9 8EF, or email mail@ lawQs.co.uk

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