| T O P I C R E V I E W |
| Irfan |
Posted - 03 April 2011 : 12:07:18
Hello
After being made bankrupt are all the charges on the property of unsecured loans written of? Do you have to pay them back at some stages even if you buy your BI?
Thank you |
| 15 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 10 April 2011 : 19:32:46
Good luck irfan - I hope you can get something sorted out with the house as it obviously means a lot to you,
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
| Irfan |
Posted - 10 April 2011 : 19:21:00
Thank You RHB
I did phone on friday Land Registry & they told me that i have got interim charges on the house not final charging order as i thought.
so they will go.
Now my house is on positive equity I will need to buy BI at some stages if i find someone
Thank you
quote:
Originally posted by RHB
If you can afford the mortage payments + the charges & you want to carry on living in that house in particular then I'd say keep it BUT if you want to get rid if a massive debt & can rent somewhere you like for a lot less it may be worth letting your house go under BR & removing the worry & stress of all the charges.
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| RHB |
Posted - 10 April 2011 : 18:43:25
If you can afford the mortage payments + the charges & you want to carry on living in that house in particular then I'd say keep it BUT if you want to get rid if a massive debt & can rent somewhere you like for a lot less it may be worth letting your house go under BR & removing the worry & stress of all the charges. |
| Niobe |
Posted - 10 April 2011 : 07:54:19
The OR will sort out the statements for you - they can get all the info they need.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
| Irfan |
Posted - 09 April 2011 : 23:28:56
Can OR do anything if you don't have statements? What happens?
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| Reviva UK |
Posted - 04 April 2011 : 22:18:33
the secured charges are entitled to charge interest for the debt - however it is usually significantly less than they were charging before it moved to a secured charge.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
| Irfan |
Posted - 04 April 2011 : 21:39:37
Do standing orders put interest on top of secured loan?
Sorry I meat charges do they charge interest as well or just what I have as charging order
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| Irfan |
Posted - 04 April 2011 : 21:35:57
Negative equity is about 20k.
If I hand the key now that I am Br that means they all be clear as far as I am aware.
Do standing orders put interest on top of secured loan? Do u think is worth keeping the house havin about 40k on charges plus mortgage ?
Or will I be better of handing the keys?
Thank you again f
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| Richard P |
Posted - 04 April 2011 : 20:54:56
Hi Irfan
re your comment on previous page asking expert to contact you, they tend to post answers on forum
if you want direct communication best to email them direct contact details in expert listing on left hand side
Good Luck Richard,
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| Reviva UK |
Posted - 04 April 2011 : 20:10:47
You need to think of the debts secured on the house as mortgages. Even if they started life as a credit card.
If you decide to sell the house in the future you will need to clear all of the secured mortgages ( or charges ) at the time of sale PLUS estate agent fees and solicitors fees.
Because you are Br it is unlikely that a mortgage company or a second charge ( via a final charging order ) will allow you to sell without clearing all the charges. They are almost certainly not likely to allow you to make a payment arrangement because they have historically taken you to court for a CCJ & charging order.
How much negative equity do you have in total?
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
| Irfan |
Posted - 04 April 2011 : 19:59:28
Can someone give me more advice as it look to confusing & to complicated.
I will appreciate if you give me your mail or one of the experts drop me mail please.
Thank you
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| RHB |
Posted - 04 April 2011 : 16:59:40
I'm not sure you can sell if they don't agree. |
| Irfan |
Posted - 04 April 2011 : 16:52:12
Thank You for reply
i think they all are final charging orders,
i just want to know if i decide to sell my house in the future after being discharged from bankruptcy & they dont get all the money will i still have to pay them back or are included on bankruptcy
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| Bigal4787 |
Posted - 03 April 2011 : 22:56:51
Hi Irfan,
in relation to the charges, do you knowif they were interim charging orders or final charging orders, as with interim orders they will be dismissed by the court and revert to unsecured liabilities, if they were made final prior to bankruptcy then they remain as a secured charge on the property even after bankruptcy.
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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| debtinfo |
Posted - 03 April 2011 : 21:54:32
yes they do, everything secured on the house stays secured on the house even if you buy the interest, i cant say it anymore clearer than that |
