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T O P I C R E V I E W
victoryhill
Posted - 27 January 2010 : 12:04:41 Hi, We have recently been discharged from bankruptcy. We had a number of properties ( personal and Buy to Let ) that formed part of the bankruptcy estate that we no longer want any part of. We are still getting calls/letters from some of the mortgage lenders quoting how much we still owe them in missed payments/charges etc and one council is chasing us for council tax.
The council is saying that because the properties are still in our name and haven't supposedly been repossessed ( even though all the properties are now managed by the Property Receiver and have been since before we went bankrupt ) we are liable for the council tax on the two empty properties.
My question is: what is the process for dealing with properties once you have been discharged in terms of possession, the lenders etc. and how long will it take and under what circumstances will they officially be repossessed ( all properties are in negative equity ) ? Thanks.
1 L A T E S T R E P L I E S (Newest First)
Richard P
Posted - 27 January 2010 : 14:20:52 Hi Victory Hill
your situation is not uncommon with ex BTL landlords
in relation to the Lenders. Their debt should have been included in your BR, if you feel upto speaking to them remind them of your BR reference and tell them to Bog off
The council tax, this is an ongoing issue that many have posted about some of the lenders are property banking the repo properties, so do not actually sell the properties for a number of years.
The lenders do not tell the council that they are now responsible for the properties, so the council will chase you.
I have sent letters and phone calls to some of my councils explaining my circumstance, some have checked the court register or the court that Repo proceedings were commenced and left me alone.
Others will insist that you are responsible and as the debt occurred after BR and as such they will continue to send the letters.
Good luck keep a record of all communications that you have with the council as it will change from person to person.
all i can do is supply a piece of wood to help you bang your head against !
your progress will I have no doubt be of interest to other BTL landlords so keep us all posted
