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givemestrength
Junior Member
United Kingdom
141 Posts |
 Posted - 27 December 2008 : 20:35:53
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| hi, my husband and I are planning on going bankrupt,to raise the fee we are planning to miss a mortgage payment.we dont have any other missed payments on our morgage,how do you think this will be looked upon? thanks |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 27 December 2008 : 20:47:12
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Hi there GMS and welcome.
Are you giving your house up as you cant afford it and all the unsecured debts too or can you not afford the mortgage and any other secured loans on it ?
How much, if any equity is there in the property ?
How much debts are you and your hubby in and is it all joint or single?
Sorry for the questions, but it would really help if you could post a few more details.
One thing i do know, is the mortgage company will phone very soon after a missed payment, if you are sure your giving the house up.
You will get lots of friendly, helpful advice so keep posting
Take care
Jenny
xx
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
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givemestrength
Junior Member
United Kingdom
141 Posts |
Posted - 28 December 2008 : 08:28:57
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| hi, we want to keep the house and will be able to pay the mortgage payments,our house has no equity,our debt amounts to £75,000 which includes a £15,000 joint loan weve been paying reduced payments of £35.00 a month for about 10years we now owe £30,000 on it, my hubby has a ccj for £5,000 from 10 years ago, and i have £40,000 credit cards, loans,catalogues from the last few years, no secured loans. thankyou for your help |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 28 December 2008 : 08:37:58
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HI GMS
Welcome
We missed our mortgage payments to save for the fee and on the day of the hearing we called the mortgage co and made arrangements to pay it back over 9 months which is exactly what we are doing and has not been frowned upon. They also never called us, the only letter we had was to say we had to reinstate the DD that was all no letters no calls until i called them.
We also want to stay where we are thats why we made arrangements to clear the arrears with them and they were very nice and understanding too. The OR has not said anything about the missed payments to us and we are nearly clear of the arrears now. We never missed a payment before this but we also needed the money for the fees.
Best of luck
Jo
x
Wishing you all a Happy Debt & Worry Free 2009
21 Weeks down
31 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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Edited by - Needafriend on 28 December 2008 09:28:26 |
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| bankruptcyhelp.org.uk Forum |
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hi, my husband and I are planning on going bankrup
