| Author |
 Topic  |
|
jwmc77
Junior Member
United Kingdom
195 Posts |
 Posted - 07 October 2008 : 14:40:22
|
how do the mortgage companies feel about underpayments in the lead up to br, for the sake of getting the money together for court costs/deposits for a rented property etc..
im guessing that surely they will take what ever i offer, obviously they wont be happy about it but surely its better tha.n just not paying
j mcalindon |
 |
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 07 October 2008 : 15:48:41
|
Hi jwmc77,
That is entirely at the mortgage companies discretion. If you intend to keep the property, you'll need to give them a payment plan to bring the arrears up to date as quickly as possible to avoid reposession action.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
|
|
|
eamonn
Junior Member
320 Posts |
Posted - 07 October 2008 : 16:10:36
|
hi jwmc77
if you were to sign over all the secured loans etc that you and your wife have to only one of you and then that person was to go br the or would prob not be happy with that and you get yourself into trouble and poss get a bro/bru, i think thats what you were suggesting in one of your posts, please excuse me if i have read it wrong |
|
|
|
jwmc77
Junior Member
United Kingdom
195 Posts |
Posted - 07 October 2008 : 18:29:32
|
no, i cant really see any way of keeping the house.....ive already come to terms with that, and i dont owe any arrears as yet...what im asking is, if we decide on br and i phoned the mortgage company and told them about the planned br and that ill be making reduced payments untill then (say half) would there be anything that they could do?? i alraedy have a ccj so im not worried about that.
j mcalindon |
|
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 07 October 2008 : 20:16:16
|
Hi
if I were having to let the house go anyway and thinking of declaring bankruptcy then I would stop paying the mortgage altogether.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
|
|
|
jwmc77
Junior Member
United Kingdom
195 Posts |
Posted - 07 October 2008 : 21:14:26
|
and i have around 3 months to declare br after i stop paying, correct?
MAC |
|
|
|
movin on
Average Member
United Kingdom
946 Posts |
Posted - 07 October 2008 : 21:26:10
|
Hi MAC
Can i just add that there was a big waiting list at my local court, so please make sure that you think about this when booking your appointment - i have heard that some courts allow you to just turn up, but your best to check with your local court.
Also, if your going to give the house up anyway then could you not stop paying the mortgage to save up for BR fees and deposit etc. for your rental property?
Are you planning on looking for rental property before BR, as im sure some of the regulars have done this.
Anyway, good luck whatever you decide
Jenny
The weights are coming off my shoulders very slowly, but making such a big diference !! |
|
|
|
jwmc77
Junior Member
United Kingdom
195 Posts |
Posted - 07 October 2008 : 21:52:15
|
hi monnyworries, yes, that is what i intended to do, stop paying to save for b/r and rent deposit...
MAC |
|
|
|
BankruptC
Senior Member
1030 Posts |
Posted - 07 October 2008 : 21:54:34
|
Hi MAC,
Because you've got a few threads going with similar questions, you'll find people giving you the same info lots of times. Maybe keep your questions on one thread to make it simpler for everyone to understand?
:-)
C. x |
|
|
|
jwmc77
Junior Member
United Kingdom
195 Posts |
Posted - 07 October 2008 : 22:02:05
|
yeah i know, sorry....it was just because the other issues were a bit different to this one, will keep that in mind.
MAC |
|
|
|
BankruptC
Senior Member
1030 Posts |
Posted - 07 October 2008 : 22:04:20
|
No need to apologise! Glad you feel like things are becoming a little clearer.
C. x |
|
|
|
jwmc77
Junior Member
United Kingdom
195 Posts |
Posted - 07 October 2008 : 22:34:43
|
oh they are.... haven't felt this relieved since we started thinking about the dreaded br!!
MAC |
|
|
|
BankruptC
Senior Member
1030 Posts |
Posted - 07 October 2008 : 22:38:30
|
That's great! Keep posting and reading. As they say, knowledge is power! :-)
C. x |
|
|
|
Topic |
|
heeeeelp!!
