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claire25
Junior Member
206 Posts |
 Posted - 09 September 2008 : 12:45:17
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Hi Guys,
a few of you are aware of the ins and outs of my situation now. We have decided that BR is the way to go. It hasnt been an easy descision but we are sure it is the only way forward. My question is, we are going down the voluntary repossesion route. Should i:
Wait for the three months for the Mortgage company to start proceedings and THEN hand the keys back?
Dont bother even waiting for the tree months and just hnd them back now?
Most importatly, should we do the VR BEFORE going BR or during the proceedure?
I figure one of the hardet things has been done = weve made the descision - now we just need sme advice on where to go from here?
Thanks again for all your advice - it has been what has got us to this point.
xx |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 13:03:35
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Hi Claire
A lot of people have found rental before going BR i myself have stayed put as we can at the moment afford the payments.
I would say look to rent, then get yourself in, save the money from the mortgage to go towards the rental costs and then go BR.
Dont know if thats helps.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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claire25
Junior Member
206 Posts |
Posted - 09 September 2008 : 13:08:14
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Hi Needafriend.
This is not an issue as we have moved back home. The property is currently tennanted. Should we put our tennants on notice, miss one or two mortgage payments then hand back the keys? in the meantime set about retrieving the forms? In the meantime should we tell the creditors our intentions and stop payments?
thanks again x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 13:12:46
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Hi in that case i am not sure.
Maybe John or Julian can help, or one of the other members as i am not 100% sure how that works when you have tennants. Sorry i misread what you meant. Derr another blonde moment for me:(
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 13:17:16
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Hi HM
Me too, at least you have a better chance of being rehomed by the local authorities.
Good luck to all. Most of all keep smiling as life is way too short. :-)
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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claire25
Junior Member
206 Posts |
Posted - 09 September 2008 : 13:51:46
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thanks
with regard to the tennants i now i have to give them two months notice so should we do this now and for the two months not pay the mortgage, inform the creditors what we intend to do, not pay them and then after the 2 months hand back the keys and start BR proceedings? xx |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 13:58:58
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I would claire.
Have you taken any other advice on your situation.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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claire25
Junior Member
206 Posts |
Posted - 09 September 2008 : 14:37:24
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Hi Jo,
I have told my fiance to call the helpline and he did. All the advisors are pretty busy (guess this credit crunch is effecting a lot of people!) but they have taken his details and are going to call him back.
We were going to get an appointment with citizens advice but it takes so long to get an appointment with a professional debt counciler and reading through some posts there doesnt seem to be a lot of faith in them.
I think that is what we are going to do. I'm starting to see that light at the end of the tunnel now - its way off in the distance - but its there!...finally!!! xxx |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 17:40:39
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Thats good Claire,
Im so glad that things are starting to get there for you.
I know its hard to take in and so many questions are always going through your mind, but this site will help you and help you a lot.
Keep us posted on how you get on and keep asking those questions.
Good luck.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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voluntary repossesion
