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| T O P I C R E V I E W |
| Mr and Mrs |
Posted - 20 January 2009 : 21:44:34
I need some advice and hope somebody can help.
We recently phoned our MP (Chelsea Building Society) because we were just reaching the 4 month in arrears mark. The lady i spoke to was really helpful when I explained that me and my husband were going BR this month, She advised that the first thing we needed to do was find somewhere else to live (which we have, from 2.2.09), she said that since we are in NE and have a 2nd charge the next thing to do was fill in and return the VR form (which she posted and we received the next day - although the forms don't mention BR at all - it just says they are likely to pursue once the property has been sold ) and return it within 4 weeks with the keys. we talked in great length about finances and shortfall (I must have asked a good 40 question and didn't leave anything out). The lady told me that any shortfall from the mortgage would be transfered to an unsecured debt and then could be included in the BR (although she wasn't too bothered about the 2nd charge). we will be moving in 2 weeks and are hoping to go BR within these 2 weeks, that way we can start afresh at our new home.
Everything was straight in our minds until we read on here that VR is the worse thing to do as any shortfall may be held back by the MP until we are discharged when we will then be presented with another debt.............Please help!!!!! we don't want to do the wrong thing at this stage and find ourselves going through the whole agro of BR only to find ourselves in debt on the other side...
Also, we received quite a puzzling and aggresive call today from one of our other creditors (littlewoods). Once again (4 calls in 3 days), we quite nicely told them that we weren't able to make the minimum monthly payment that they were asking and that our situation hadn't changed since the previous day or the day before that, to which they said they were selling our debt on, we informed them that we were going BR and were moving and that our OR would be in touch with them and they could send who they wanted round here (we were provoked because the lady on the phone was being very stroppy and quite aggresive), she said it doesn't matter if you move because they can do a nationwide search under our name and they would track us down and send the debt collectors to our new home. We were under the impression that if we went BR a couple of days before we moved, then the only person to have our new address would be the OR (not even the MP). Is it true or are they just trying to scare us with words.
We wanted to keep our new address away from everybody that wants money from us, thats why we though going BR before we moved would be the best option, we only just got confirmation of the new accomodation today and the moving date is obviously very close now. Would it be wise to go BR before we move (fingers crossed that the London court is not too busy) or should we go BR from our new accomodation (although this will involve new forms etc and we will obviously be registered from our new address). The landlord is aware that we intend to declare ourselves BR and is ok with this as we have been able to get a guarentor and we have been very honest and up front about everything (always the best option), i don't want to drag all the letters and calls with us to the new address except with the OR.
Thanks
Alexandra -
We cant stop tomorrow coming so lets see what it brings. |
| 3 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 21 January 2009 : 16:05:00
Glad I could help!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| Mr and Mrs |
Posted - 21 January 2009 : 15:12:49
Thanks Julian
We cant stop tomorrow coming so lets see what it brings. |
| JulianDonnelly |
Posted - 21 January 2009 : 14:44:40
Hi Alexandra,
Any shortfall following voluntary reposession before BR will be a new unsecured debt. As it was incurred prior to BR, it will be included and written off in the BR, irrespective of what your mortgage company said. Be advised that some mortgage companies are trying to pull a fast one getting you to sign a document saying you are still liable for the debt even if you go BR. Effectively, this would be unenforceable, but a bit of a legal battle!
Littlewoods are clearly not listening to you. Remind them that harrassment is a criminal offence under Section 40 of the Administration of Justice Act (1970).
I would suggest going BR once in the new property. If any creditors chase you there, just give them your BR ref and OR details. It is then illegal for them to contact you directly, and all their enquiries have to be through the OR.
Hope this helps!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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