Hi, i am currently bankrupt declared bankruptcy in October 2009 and i thinking of entering into a AVS repossession scheme with my lender regarding my mortgage, we are in negative equity and have been advised any shortfall will be included in bankruptcy however i wanted to know that if the house is not sold before we are discharged from bankruptcy would it still be included in the bankruptcy as we've started the proceedings now or would we be liable if the repossession/sale doesnt go through until after were discharged?
so long as you do not sign to say you will remain liable for the shortfall after repossession and sale, then regardless of whether the shortfall arises whilst undischarged or after discharge if it is listed on your SOA then it will be covered in BR
Dave
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AVS repossession scheme
Posted - 15 February 2010 : 22:56:56
