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Steph70
Starting Member
3 Posts |
 Posted - 03 February 2011 : 10:16:10
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| Hi Everyone,this is the first time ive posted but have been reading the forum for a while.Me and my partner went Bankrupt on 1st Oct and our house was listed among other things.My partner lost his job and im on longterm sick on SSP so our total income was £102 per wk so we couldnt hand keys back and rent somewhere or buy interest out,weve had to wait till were evicted.My 1st question is are we liable for any shortfall on mortgage ,and we also had loans and cards with lloyds tsb that was listed as unsecured loans,They have been informed of bankrupcy but have still passed to soliciters who are taking us to court,are we liable for this debt too.Sorry about the long post and any help will be greatly appreciated |
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memphisd56
Junior Member
United Kingdom
112 Posts |
Posted - 03 February 2011 : 10:43:21
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Hi Any shortfall will be included in your backruptcy...as long as you don`t sign the form you mortgage company gives you...Just hand back the keys via recorded delivery.
All unsecured debt will be included..apart from student loans and CSA e.t.c. Your cards will be covered. Even HMRC debt is covered.
This is how it was for me...An expert will be along soon to clarify. |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 03 February 2011 : 10:43:53
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Hi Stepeh and a warm welcome to the forum
Sorry to read your circumstances, to answer your question, yes you are liable for the shortfall, was the property in joint names? Your partners shortfall will be included in his bankruptcy along with all his other unsecured debt. If any of the creditors write to him, or contact him just inform the OR and send any paperwork to the OR to deal with.
Were any of your debts joint? (shortfall or unsecured?) if so, than sadly, if you did not file for bankruptcy then you are still liable for them, and have two choices, pay them or also file for bankruptcy. Sory if this was not what you wanted to hear, adn if i can help further please post a query, Melanie
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
telephone 01792 899996
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 03 February 2011 : 10:46:01
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apologies Steph, now noticed that you both went bankrupt. All debts including the shortfall will be included in the bankrupcy.
Make sure though as per another post you don't sign anything with the building society, just hand keys back
Melanie
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
telephone 01792 899996
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 03 February 2011 : 11:40:54
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Hi steph
if you phone / write to the OR and say that you are still being persued they will deal
alternatly ring creditors and get them togo online at insolvency service website, they can then search for both your names and confirm BR details
Richard |
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glafy
forum expert
436 Posts |
Posted - 03 February 2011 : 12:48:24
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Hi Steph70 & welcome to the Forum
The usual sound advice given by the Experts on here.
This is a great place to have questions answered so keep on posting and people will do as much as they can to help.
Again, Welcome
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Steph70
Starting Member
3 Posts |
Posted - 03 February 2011 : 15:24:59
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thanks everyone for fast replies,puts my mind at rest.
Steph |
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Sarah.12
New Member
United Kingdom
58 Posts |
Posted - 04 February 2011 : 23:33:04
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Hi all, sorry to butt in on this thread, but I noticed you say don't sign anything when you hand your keys back in. My husband and I handed our keys in in April 2009, we didn't pay anything towards the shortfall after they sold the house, but when we handed the keys in we did sign a form, can't remember exactly what it was, but both my husband and I went br in Dec, by signing this form, could we still be liable for the shortfall? I'm really worried now as it's 15k
Sarah |
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debtinfo
forum expert
2826 Posts |
Posted - 05 February 2011 : 09:02:28
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| only ifyou signed it after the bankruptcy |
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Sarah.12
New Member
United Kingdom
58 Posts |
Posted - 05 February 2011 : 20:34:57
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Ah right, fab thanks debtinfo, was beginning to panic then lol
Sarah |
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Hi Everyone,this is the first time ive posted
