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T O P I C R E V I E W
short1
Posted - 03 December 2009 : 21:43:23 Hi, I was BR sept 09 and hoping to keep our home, I have between 8 and 18k in equity and have been informed by OR that it has been passed to IP trustee, is that good news or not with regard to the possibility of keeping our home? I was told by OR initially that my car with to be disregarded, will this now be reconsidered by trustee and maybe at risk? I was hoping to be able to borrow around 5k to buy BI, what do u think are my chances of keeping home on this basis now plse? thankyou for your help.
3 L A T E S T R E P L I E S (Newest First)
debtinfo
Posted - 04 December 2009 : 20:01:01 If it has gone to a trustee that is usually because they believe that your asset is worth at least £10,000 and that would normally be the basis the IP took the case on
short1
Posted - 04 December 2009 : 19:56:01 My car is worth approx 2.5k and yes I have 2 valuations after the OR office did a drive by valuation at an inflated 145k... I would never achieve that in top notch condition which it is not.. the 2 valuations are 125 and 130 and I owe 117k, the 5k would have to include the legal fees which I expect to be around £300? did u mean in ur reply that u thought I had a good chance of keeping our home if I could come up with 5k? is it bad news that I have a trustee dealing with this case, the OR office were really good and I was hoping to keep them and not have to start again but hey I'm in no position to influence anything really!
short1
Richard P
Posted - 04 December 2009 : 09:02:18 Hi Short one
on the text that you have printed the immediate reply would be very high.
you have not mentioned car value so i take it that it is under 2K and that you need it for work / business
as far as your home is concerned i take it that you have obtained some property valuations from estate agents who are quoting for a distressed sale.
The 5K that has been loaned to you i take it that is all the money you have and that has to cover the legal fees to purchase the BI as well !!!
