I have been bankrupt from December 2010. I have had a marriage break up and both of us have not lived in the house for nearly 2 years. I have informed the mortgage company that I am bankrupt. The property has a lot of negative equity on it. I recieved a letter Nov 2011 to say they are evicting us from the property and preparing to sell it. Although my bankruptcy ends next month and obviously yhr house wont be sold within this timescale, will the unsecured debt(negative equity) be included in my bankruptcy?
I am sorry to hear of all your woes and it can't have been an easy time fore you. However there is good news in that any negative equity will be written off in your bankruptcy. However if your ex wife is a joint mortgage account holder and she is nit bankrupt, the mortgage company will chase her for the shortfall due to you both being joint and severally liable.
All the best
John Blackadder Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk.
Many thanks for your reply ... Greatly appreciated!
Is it true though that the mortgage company will still come after me looking for their payment? I wrote to them last January and made them aware of the circumstances ... They have ignored the letter and keep sending details on the mortgage and asking us to start repaying the missed payments. They have sent solicitor letters stating they are involved in proceedings and the latest letter has been a 10 day eviction notice (they know we haven't lived in the house since Jan 2010).
Would our unsecured debt, negative equity, be included in BR ?
Posted - 07 November 2011 : 17:22:22
