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johns
Junior Member
United Kingdom
269 Posts |
 Posted - 02 September 2008 : 20:16:25
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Hi went br on the 5th august, problem i have got is i had guaranteed loan on my house plus an overdraft all with the business but a charge on the property personal to me.
The total amount is around 68k and i wrote to the bank before they found out i was bankrupt to offer 850 per month i have let the or know and everything fine but barclays have not replied as of today.
In an experts opinion will the bank come for their charge on the property if so will the court look at my offer and defer any re-possession as i am offering more than the interest each month on the amount owed.
Regards
Johns |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 02 September 2008 : 21:11:45
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Hi Johns and good evening,
Hang on in there as i cant help you but someone who can will be along shortly.
Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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John
New Member
United Kingdom
73 Posts |
Posted - 02 September 2008 : 22:20:54
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Hi
Can't help I'm afraid, this being a question on the internal workings of a bank, rather than a debt issue, I haven't a clue which way the bank or the court would go in this case.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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johns
Junior Member
United Kingdom
269 Posts |
Posted - 03 September 2008 : 06:37:49
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Thanks they are a strange breed or should i say greed
Regardsquote:
Originally posted by John
Hi
Can't help I'm afraid, this being a question on the internal workings of a bank, rather than a debt issue, I haven't a clue which way the bank or the court would go in this case.
www.Bankruptcyhelp.org.uk
0800 078 9367
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 03 September 2008 : 11:06:50
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Hi Johns,
Having worked for one of the major high street banks for the best part of 10 years, i'm afraid I have to agree with John in the fact that it's down to the manager's discretion. Suffice it to say that as long as you are making reasonable payments against the debt, it is unlikely (especially in the current climate) that the bank would look to force a sale (unless there is a vast amount of equity in the property).
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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johns
Junior Member
United Kingdom
269 Posts |
Posted - 03 September 2008 : 16:25:11
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Thanks Julian probably 15k after the bank took theirs, as we know in the climate its not easy to sell, my worry is that they have not responded to my letter offering a reasonable payment, if they want to force a sale they would have to pay off the first chargeholder B M idshires 190+ to force the sale.
With your knowledge what is the timescale of getting pushed through with all they have to do, i am not in arrears with my mortgage.
Many thanks
Johnsquote:
Originally posted by JulianDonnelly
Hi Johns,
Having worked for one of the major high street banks for the best part of 10 years, i'm afraid I have to agree with John in the fact that it's down to the manager's discretion. Suffice it to say that as long as you are making reasonable payments against the debt, it is unlikely (especially in the current climate) that the bank would look to force a sale (unless there is a vast amount of equity in the property).
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 03 September 2008 : 17:16:40
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Hi Johns,
They'd have to go to court to take legal posession (and they'd need the permission of BM to do this). Sit tight and negotiate as I doubt it's in their interest to go down this route.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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johns
Junior Member
United Kingdom
269 Posts |
Posted - 03 September 2008 : 17:53:59
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Thanks Julianquote:
Originally posted by JulianDonnelly
Hi Johns,
They'd have to go to court to take legal posession (and they'd need the permission of BM to do this). Sit tight and negotiate as I doubt it's in their interest to go down this route.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 03 September 2008 : 19:07:28
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Glad I could help.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Topic |
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barclays bank
