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T O P I C R E V I E W
nicky35
Posted - 26 May 2009 : 13:21:10 hi all another question for u's on SOA section 4 does it mean how much do you owe to todays date for your secured creitors and also how much do you after X amount of years when you've eventually paid your secured lenders off? Not what your house is valued at now? is this right because i'm confusing myself with this dam form!! Thanx for any information
2 L A T E S T R E P L I E S (Newest First)
nicky35
Posted - 26 May 2009 : 21:18:25 Right, thanks so much gettingoutofdebt
gettingoutofdebt
Posted - 26 May 2009 : 18:25:23 Hi,
Yes, 'amount owing' is as of today. Just multiply the monthly repayments by the number of months left in the agreement. I tried to get a statement of amount owing from my creditors but they never got back to me but the OR will contact them and be able to get an exact figure.
So, for your property it would be:
Name of creditor - the mortgage company
Address - the address of the property
Account reference - the mortgage agreement number Amount owing - the monthly repayment multiplied by the number of months left.
Present value - current value of the property. You could estimate this based on other, similar, properties in the area. I am not too sure whether your property is in negative equity or not but be sure not to over estimate. You could always get a valuation for a 'quick sale' and put this value down.
Net Amount owing - The amount you owe minus the value of the property
Is an employee - you can leave this blank.
Do the same if you have any secured loans on the property.
Thanx for any information
