Hi, does anyone know about voluntary repossession. We included potential shortfall in SOA. Don't really want to go through the court thing. What is the procedure please??
If you have filed for bankruptcy or are about to do so, the OR will give you full adcive on this and remove the burden from you. Have you already secured alternative accommodation, if so and just want to know what to do, write to the Bank/building society and return the keys with a letter indicating your are voluntarily surrendering the property back to them - send the letter & keys by recorded delivery so that you have proof. They may produce a form for you to sign DON'T sign anything. As long as you have listed the shortfall on the S of A everything will be included in the Bankruptcy
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
Hi, does anyone know about voluntary repossession.
Posted - 27 March 2009 : 13:27:37
