|
|
 |
 |
FORUM |
|
> Browse and post on our forum |
|
|
|
 |
|
 |
| Author |
 Topic  |
|
|
RichardN
Starting Member
United Kingdom
10 Posts |
 Posted - 11 January 2009 : 09:00:16
|
This is my first post and I would like to thank everyone involved. I have spent the last week ( til the early hours) getting nearly all my questions answered.
After reading posts general opinion is to rent property, hand keys back and then go bankrupt. My concern is how the new landlord will react, and can anyone who has done this had the OR contact the landlord |
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 11 January 2009 : 09:08:17
|
Hi Richard & Welcome
I am so pleased that so far you have found our forum so helpful to you that gives me great pleasure to know.
The order in which to give up a property and then go bankrupt is right as you have put it, its best to find rented if you can, then move out and send the keys back to the mortgage co with proof of postage.
The new landlord should NOT be contacted by the OR if you can provide evidence that you dont owe anything to them, the other question though is what is there terms and conditions with regards to a bankrupt tennent.
It may be worth looking around for private rentals, or just check out the T&C's when looking. Call rental places anonymously and ask generalaly. The rule of thumb i would have thought would be if your paying and are a good tennent then they would want to keep you, but best to check out first.
Good luck with your reading and your bankruptcy.
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
|
 |
|
|
got there
Junior Member
United Kingdom
461 Posts |
Posted - 11 January 2009 : 09:51:24
|
Hi Richard
I beleive it is pretty standard for the OR to contact the landlord/letting agent. But we are about to move at the end of Feb have been totally honest with letting agents which in turn has been passed onto landlords, they are quite happy with my mom being a guarantor.
A previous property we had lined up they wanted a £2k deposit it just depends on the landlord, but generally they either want an increased deposit or a guarantor. Its surprising how many people have been through the mill financially themselves.
As Paul at Reviva told us why move out of mortgage house until you have to, save the mortgage payments for deposits, removals etc, as in essence you will be living mortgage/rent free for at least 3 months and the OR is happy with this too.
Hope this helps and good luck.
GT |
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 11 January 2009 : 10:21:19
|
Hi GT
I agree with you, we have stayed where we are but we are hoping to keep our home as we can afford the repayments and dont have any secured debts on our home.
I did think about giving it all up before we went BR but then i thought NO i will stay and see what happens as long as we pay the mortgage we can stay in our home, subject to the BI of course.
If you cannot afford the repayments or you have other secured debts which take you over a reasonable amount per month and you cannot afford to continue to live there then you can do it either way, like you have said it is better maybe to do it after BR then you can save the mortgage money for a deposit but it is personal choice and dependent on circumstances. Its a case of weighing things up and seeing what is the best option for the individual at that time.
Have a great weekend, well whats left of it.
LOL
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
|
|
|
|
joella68
Junior Member
United Kingdom
280 Posts |
Posted - 11 January 2009 : 11:22:35
|
hi richardn,
i am in court in the morning for BR, just wanted to say we made the choice to give up our house as we had a huge mortgage and secured loan too the monthly repayments were £1421 per month ! and we just could not afford the upkeep on repairs etc, so we made the jump early, due to the fact we had not missed any payments our credit file was still perfect, but we do have 2 big dogs, a cat and 3 kids, so a arge family ! so was finding it a little tough to get the right rental with the dogs, anyway we were totally up front with all the agents, becuse you need to protect yourself too, not just the landlord !!!! anyway we did have to pay £2000 deposit, but the landlord knows everything and is fine with it all.........so no nasty suprises later ! and we have been in our new home nearly 5 weeks now........in my opinion this was the best way to do it..........hope this helps
jo |
|
|
|
RichardN
Starting Member
United Kingdom
10 Posts |
Posted - 11 January 2009 : 14:16:40
|
 Many Thanks for your responce. I will try to keep this brief but in December we realized how bad things were, and worked out it would be £300 cheaper for us to move into rented. We put deposit down thinking at this time (clueless Ha Ha) to hand keys back and get an IVA.(did not know about shortfall ect) January told by a company that we were £600 short to get IVA, also CCCS had surgested bankrupcy (at time sounded a bit drastic). My plans and ideas sounded good at the time but after all the advice I had, I returned to the real world. We booked bankrupcy on Friday for Febuary the 5th, with £1000 deposit on house plus 2 months payments in advance. Morgage given deadline for 25th this month to pay or they will take us to court. Plan is to move about that time, hand keys back then go bankrupt.
Best Regards
Richard
Ps Had worst Christmas in my life...scared to answer phone or if there was a knock on the door I send one of the children to see who it was. (got all that wrong aswell thought ballief would be calling should of come on this forum sooner)
|
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 11 January 2009 : 14:22:52
|
Richard
We all know too well where you are coming from, one of my creditors threatened a bailiff in a week if i did not pay but luckily enough i had this forum and the guys on here helped me to realise there are steps they have to take first.
Are you moving in soon then? I think its best to get it sorted if you can before, again up to you, you seem to have everything sort of under control and if i were you i would if you feel you need it call the helpline just to make sure that you are on the right track and get it all right and the first time too.
That number is 0800 078 9367, they may not get to speak straight away but leave a name and a contact number and someone will get back to you, they are a little busy as you can imagine right now.
Best of luck and keep posting
LOL
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
|
|
|
|
RichardN
Starting Member
United Kingdom
10 Posts |
Posted - 11 January 2009 : 16:11:24
|
Thanks again Jo
I think I have everything covered now but I would not have done so without this site.  When I was thinking it cant get any worse and generally feeling sorry for myself, you find your not the only one, theres others worse off than you, and that there is light at the end of the tunnel
One last question
I am selfemployed, had not done tax returns since april 06 and have been paying fines (logic at the time was I could afford the £100 fine but not a £6000+ tax bill) and hoped things would pick up.
Cant afford accountant to do 2 3/4 years books, would my own spread sheet be ok for OR? Had been told just to give them all paperwork and let them sort it out, but that did not sound right. Business is still viable although quieter these days, I would be able to earn a living provided OR says its ok, much better than unemployment.
Best Regaards
Richard |
|
|
| |
Topic |
|
|
|
| bankruptcyhelp.org.uk Forum |
© bankruptcyhelp |
|
|
|
|
|
 |
|
|
|
|
|
This is my first post and I would like to thank
