I was reading in another forum - sorry HPC guys, that this person got into 400K debt - escalating from 20K; from here:
the gist is to never ever get into debt - after about 10K i say you are at the mercy of the lawyers and creditors who cand f**kyou over
if the post is true then its, sad sad sad
"I was declared bankrupt 2 and a half years ago for the first time.I was trying to pay off a debt of 20k and had arranged and sent payment of 19k because the other party's solicitors had agreed to accet this. However this was then rejected by the solicitor.There was a supporting petiitioner of 69k and the two worked closely together because they wanted to bankrupt me. At the previous hearing before the petition was entered, the registrar told me to go away and get specialist help. I did this and the company helping me were confident that they would get an extension of time in order to put together an IVA.I did not go to the hearing because they went and used a solicitor. Unfortunately the same registrar did not grant any more time and said if an IVA was going to be drawn up then the bankruptcy would be anulled that way anyway. So I was made bankrupt for a total of 70k. The trustee that was appointed had already bee working with the main creditor and so my relationship with the trustee has been very acrimonious. I lost my home which always had enough equity in it to pay for the 70k. However the debts in the bankruptcy apparently escaleted to around 400k according to the trustee.The sale of my home produced 175k but accordinf to the trustee this was 118k after "expenses". Worse than that was that a local estate agent informed me that a week after the sale it was sold again for 75k more. This was confirmed by the Land Registry.There was a meeting of creditors by the trustee in order to vote that the trustee could take his expenses of a further 95k "off the top" and thus be paid immediately. Noone turned up except for my former solicitor who put in a new claim for 95k for work he had apparently done for me although I had never seen an invoice for this and would dispute it. However, he declared that he was in fact the controlling creditor but the trustee adjourned the meeting for a month. When it reconvened, the trustee had introduced a new debt for 25k form a creditor that he had contacted and sought their proxy. The solicitors debt was thrown out and the meeting passed the motion to pay him even though there was still noone there. The new debt of 25k is definately suspect. I know the person who the trustee said put it in and they were never owed a penny!Indeed this debt only appeared when the trustee sought it.I have no idea of wher I stand in the bankruptcy. I have requested an upto date account of what claims have been admitted and which ones rejected and what the costs are but have only ever recieved vague figures because he says that matters are still being looked into. I think that ther have been a lot of things going on which are not right. I should in my opinion nevr have been made bankrupt in the first place, as I always had enough equity in my home. In any case the equity from my home should have cleared any genuine debts but these have apparently escalated to 400k. The only amounts I have ever been legally obliged to repay were the ones I was made bankrupt for. I am deeply concerned that I have been kept in bankruptcy by the trustee who has done everyhting possible to ruin me and make this an absolute nightmare. The fact that my home sold for 75k more makes me belive that it is he who sold an asset at undervalue. The whole thing stinks and I know there are shady deals going on right left and centre but I'm seemingly powerless to do anything about it because I have no money.I know anyone reading this will feel this can't be right, but I'm afraid this is a true story, and sadly there is much much more as well.Could you advise me on what I can do. I know about reoprting him to his governing body etc but I feel that this would just be a waste of time as most of these "govering bodies" usually are. "