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darren_b
Junior Member
213 Posts |
 Posted - 28 August 2008 : 15:47:06
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Hi -
We move into rental accom tomorrow - been dodging calls from Mortage and secured loan for past month - should I now answer and tell them to begin repossession procedings~? |
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BankruptC
Senior Member
1030 Posts |
Posted - 28 August 2008 : 16:13:49
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Hi darren.
Really it's up to you. We're now in rented and are due to go BR mid-Sept. Like you, we've been avoiding the calls from the secured lenders (while informing the unsecured ones, in an attempt to keep them off our back!) so far. Now we're settled in rented, we plan to post the keys back recorded delivery to the mortgage company with an explanatory letter, and send a letter to our secured loan lender too. As we're not too far off BR now, (only 2 weeks or so!), we feel we can ignore any letters or calls from them, and let the OR deal with it after BR.
So I guess you could do the same, or you could wait till BR, and let the OR deal with it. Up to you really.
One piece of advice I did get, which I will definitely remember, is NOT to include our new address in the correspondance with the lenders! 
Hope that helps a bit.
CG.x |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 28 August 2008 : 19:33:53
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Hi
Please remember to INCLUDE the mortgage lender AND the secured lenders details in the UNSECURED DEBT list and this is important.
This means that if there is negative equity after the property is sold the debt will be included in the bankruptcy.
Not great to be debt free only to be chased for a new debt.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 29 August 2008 : 14:59:38
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Hi Darren,
If you're ready to go, let the mortgage company know they can have the property back. The OR will examine your conduct prior to and during your BR, so try and appear to cooperate as much as possible.
As Paul quite rightly says, it's imperative the secured debts are listed in the unsecured section of your SOA to ensure any shortfall is included in your BR.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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darren_b
Junior Member
213 Posts |
Posted - 01 September 2008 : 13:54:26
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Hi all,
Thanks for the advice all, and CG, hope everything goes well for you. Its all so real now and havent slept for two nights now. Ill contact the mortgage lender this week, is it best to do as CG has done and post keys back recorded delivery with a letter?
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 01 September 2008 : 15:16:44
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Hi Darren,
I would suggest contacting the mortgage company by telephone to see what their procedure is for voluntary reposession. Most require a little paperwork.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Mortgage
