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huntersrishon
Junior Member
189 Posts |
 Posted - 23 September 2008 : 08:36:41
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Hi All
Went to CAB yesterday - they confirmed what we already knew our mortgage company are real *******. We have been advised to hang fire on the BR until end of October/beginning of November. We cannot move in to the rental until mid December.
The first mortgage payment will be missed next week - CAB said if we have gone bankrupt it may give them ammunition to get an early court date to get us out. They have also advised as OH is redundant this week it gives us a couple of weeks to find out what benefits if any he can get if any.
We were also told there is a good chance we will lose the car, it is worth about 2700, I think we feel more gutted about losing that than the house. There is no way we would ever be in aposition to get another one. Although it costs about 130 a month to run the car - bus fares for 2 of us would be 120 a month minimum depending on if and where OH gets a job.
Feeling really depressed at the moment  and hanging fire is going to mean nasty phone calls, I do not know how we will cope with it all. The bright side I am looking at is that I do not think it will have reached the stage of people knocking the door. (I HOPE)
Dee x |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 23 September 2008 : 09:02:12
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Hi
It is my opinion that your car would be exempt in your bankruptcy as it is worth less than £3000 and would be needed for work.
It usually takes 3 missed monthly payment before the secured lenders have you on their radar so you should be ok until December, and then they need to go through the usual channels which can take another couple of months before eviction.
You will start to get the chasing phone calls as soon as you miss one payment to the unsecured creditors, but if you don't feel you can cope with this perhaps you should get a bankruptcy appointment sooner. Have you checked with your local bankruptcy court how long the wait is for an appointment as some courts have a waiting time of 6 weeks plus.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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huntersrishon
Junior Member
189 Posts |
Posted - 23 September 2008 : 09:25:05
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The wait time is between 1 and 2 weeks at the moment. I think as soon as we go back for our appointment on 15th october we will book an appointment to do it as soon after that as we can.
We have received a 28 day default notice on our egg loan. Does anyone know how long it takes before people come knocking??
Dee |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 23 September 2008 : 12:05:45
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Hi Dee,
It varies from creditor to creditor, and at the moment, week to week. Once the default notice is issued, they'll likely pass the debt on to a debt collector. Eventually, they'll go for a CCJ.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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huntersrishon
Junior Member
189 Posts |
Posted - 23 September 2008 : 15:07:52
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Thanks Julian
Is a default notice the 28 day thing? I am trying to work out times. When the mortgage payment is missed on the 1st I am guessing they can issue the 28 day notice from the 2nd. That would then take us to the end of October. Is it possible for them to issue the notice, send in debt collectors, CCJ and evict us all within 10 weeks. 10 weeks is how long we will need from 1st October.We then have a rental lined up.
Dee |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 23 September 2008 : 15:29:48
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Hi Dee,
Usually, your mortgage payment is classified as missing until it is 28 days late. If it is just the mortgage you are referring to, then debt collectors and CCJ's won't happen. Depending on how long you've had the mortgage, you normally have to go about 3+ months into arrears before the lender will go for reposession.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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huntersrishon
Junior Member
189 Posts |
Posted - 23 September 2008 : 16:43:53
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Hi Julian
Thank you for all your help and advice.
We have had the mortgage 18 months. We have a 28 day default letter from our Egg loan and that expires on 10th October. My OH has been made redundant and we are going down the BR route as we were struggling anyway with everything going up.
My wages will cover all our living expenses apart from Mortgage or rent, I know you can get help with rent so our plan is to move in to the rental but it is not available until December. The house if it sold we would just about clear Mortgage and selling fees. It has been on the market 4 weeks and not one single viewing.
The CAB said they could write to our other creditors offering a pound a month but as we are going down the BR route they do not see the point. If we can just fend the creditors off until we go BR at the beginning of November.
Dee
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 23 September 2008 : 17:51:20
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| i am also with Morgan Stanley (Advantage) and they are b******s they dont want to know about helping or reducing mortgage payments etc - so its hard luck for them cause they will loose out when I declare BR in a few weeks. Have had mortgage for around 18months also. It probably to do with the fact that Advantage are no more with the credit crunch etc - but even so they could have been more helpful - so DD has been cancelled they dont have current phone numb so all they can do is write to me! Hopefully I should be able to get a council property. hope all goes well. |
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huntersrishon
Junior Member
189 Posts |
Posted - 23 September 2008 : 21:10:26
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OMG Gettingthere!!! I cannot believe you are also with Advantage - but I suppose some of us have to be. Looks like they could be getting two for one then as we will be going BR in about 4 weeks time.
I have not phoned them and we are missing our 1st payment next week, we will monitor our calls and only answer the numbers we recognise. I know they are ******** we combined our buildings and contents about 6 months ago and they accused us of not having any buildings and tried to force us to take theirs. They were really rude and unhelpful on the phone!
Dee |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 24 September 2008 : 07:11:30
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| Yes Dee - I taking the plunge on the 17th so 3 wks on Friday OMG! x |
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huntersrishon
Junior Member
189 Posts |
Posted - 24 September 2008 : 07:56:07
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Hi Gettingthere
Ours will be around 23rd CAB finishing forms off with us on 15th.
Have you missed your first mortgage payment yet - I dont know about you but everytime I think about it my heart races and I feel sick.
Do you have children? Our daughter is at uni but commutes and lives at home.
We will have to keep each other informed on our progress and compare Advantages reaction - we will be able to let each other know the timings on their letters etc.
Good Luck, we will all get through this,
Dee x |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 24 September 2008 : 14:09:45
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Hiya Dee
Made a part payment in Sept of £200 (was £600 short) 1st full payment will be missed on the 1st Oct - so will wait and see how long it takes them.
I have 2 daughters 7 & 2.
As regards CAB I found them to be as useful as a chocolate teapot - girl had to keeping going to check things and I had found out more off the forums than she knew lol! I found Paul Johns to be a lifesaver and will be ringing him just before print forms off (done them on line) just to double check things.
Take care I will keep you posted. x
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huntersrishon
Junior Member
189 Posts |
Posted - 26 September 2008 : 08:09:05
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Hi Getting there.
We will be missing our 1st payment on 1st October too!!
Have you had much dealings with them since you paid the reduced payment. I know you said you are hoping to get a council house - have they given any indication of how quickly they can get people out??
We are hoping to stay till mid December - we have a rental from then. CAB told me when we go bankrupt they may have a good case to get us out quicker. I hope we are able to sit tight till December.
Good Luck with everything
Dee x |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 26 September 2008 : 09:19:24
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Hi Dee, i rang them to say we couldnt make the full payment (hubby moved out and rented deposit for rental place) didnt tell them that thou. They agreed to waive the £50 fee for non payment (this is charged normally if full payment is not made) but as I told them they held the DD so it wasnt called for. This was on the understanding that I rang in Sept to arrange a plan to pay back arrears (yeah as if). I havent told them that there will be no payment for Oct etc or that I am declaring BR - They will find out soon enough lol.
As regards the council house, they cant offer me a house until I have the papers thru threatening court action. If i see a rental property that is really nice and where I want to be i will enquire about that (i would rather be settled for xmas with 2 kids)
Most CAB's i think leave a lot to be desired with their advice. They cant start proceedings until you are 3 payments in arrears. You should be fine until Dec. Paul Johns at Reviva has been an immense help.
Good luck, i will probably be panicking on here the night before as I think everyone does lol.
Take care x |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 26 September 2008 : 09:21:38
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| Hi Dee, i will ask admin if they can send you my email addy if thats ok x |
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huntersrishon
Junior Member
189 Posts |
Posted - 26 September 2008 : 09:59:57
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Hi Gettingthere
That will be good if we can share our email addresses.
Dee x |
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Advantage - Morgan Stanley
