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| T O P I C R E V I E W |
| got there |
Posted - 16 January 2009 : 11:57:01
We have Advantage as our mortgage lender, account now has been passed onto the litigation dept within their company, after them receiving last full payment in August 08. I detailed all mortgage details both on secured and unsecured sections of the forms so my liability for house would be captured in the BR. After speaking with girl in so called litigation dept she said it would be unlikely that my liability would be included in BR. I was very confident with her said "to say she works in litigation dept she knows very little about the law, with respect".
She also went onto to say if no payment or arrangement to pay was sorted they would go for Court Hearing and then posession. I asked what the time scale would be - court hearing will take between 2-8 weeks depending how busy courts are then if a possession order is granted a further 28 days. I said to her that this would not happen before we move out (6 weeks today). She obviously cant count either as she said it could happen before we move depending how busy the courts are??? Where do they get these people from??
I am more than confident that my liability is captured within BR but could someone just clarify that please I have left a message for my case officer too but know they are busy.
Thanks x |
| 7 L A T E S T R E P L I E S (Newest First) |
| got there |
Posted - 16 January 2009 : 19:48:16
Hi Paul
Yes thank you for putting my mind at ease, and yes it is unbeleive the lack of training they have - they should at least be trained in the basics.
Take care
GT |
| Reviva UK |
Posted - 16 January 2009 : 19:44:50
Hi got there
good to talk again earlier.
I still find it odd that the training given to staff is often "incomplete"
You will be fine
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| got there |
Posted - 16 January 2009 : 19:40:07
Thanks Pix
Yes I know now that the mortgage shortfall will be included, had a bit of self doubt earlier.
What is a Form J Restriction?
Take care x |
| pix1 |
Posted - 16 January 2009 : 14:44:55
got there,
It is exasperating I know but I would not be too harsh on the girl (even though she is a clerk in the litigation dept.) as it has taken me a long time to ascertain that any mortgage shortfall after the property is sold becomes an unsecured debt in your bankruptcy and cannot be pursued by a lender provided you have not made any mortgage payments from the date of the bankruptcy order. What worries me, however, is that a mortgage company might be obstinate and refuse to update a credit file as 'satisfied' even though they cannot legally claim.
I had a mortgage with Northern Rock and, looking back on it, they were bloody marvellous. My problems started when I swapped a high street company, NR, for a sub prime company, Mortgages pl,, just so I could take out a ridiculous mortgage in a desperate bid to won a house! Of course, this tipped us over and we already had £70k of debts between us which went into our bankruptcy.
Right now the agents are trying to sell our ex-home. Originally it was up at £219950 and recently it is up at £199950! We were 'delinquent' (default, I believe?) on Equifax for £244000 and, with interest still be added until it is sold, the latest 'owing' is £256k! Clearly, this is heading for a whopping mortgage shortfall when it is sold. WHEN!
I think the mortgage company will update the file when it is sold but, even though they know of our bankruptcies they continue to add interest until it is sold.
Luckily there is a Form J Restriction on any sale. Phew!
I sure hope we are covered for mortgage shortfall!
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| Jane.l |
Posted - 16 January 2009 : 12:32:59
I had this too, we had our mortgage with NRock (oh joy) and they were still ringing me up, after the house had been reposessed and I was bankrupt, asking when I was going to pay the £9,000 in mortgage arrears that had accumulated since we had left the house, the person on the phone just kept on repeating "but bankruptcy does not cover secured lending" I just stopped dealing with them on the phone after that. |
| coxy |
Posted - 16 January 2009 : 12:14:28
HI GOT THERE
Know where yer coming from on this before we gave our house up our lender used to ring us, up to 6 times a day even sundays.
I used to have to go through the story every time in the end i used to say now have you put your script down cos if youve not im not talking to you. |
| got there |
Posted - 16 January 2009 : 11:59:15
Forgot to add she said if a repossesion was sort it would be noted on my credit file and I would find it hard to get credit in the future. I AM BR WAS SHE NOT LISTENING!! arrghh |
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