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Nice Guy
Starting Member

United Kingdom
14 Posts

Posted - 20 April 2009 :  17:42:48  Show Profile  Reply with Quote
I had a OneAccount mortgage on my former home. The OneAccount is a current account mortgage. They evicted me and sold the property leaving me with a £25,000 debt. Does this count as a secured loan since the property is now sold? Do I need to declare it as a property I have disposed of since I had nothing to do with its sale? Also in the section on bank accounts do I put the £25,000 overdraft there, or should it be somewhere else on the form?

Reviva UK
Advanced Member

United Kingdom
2452 Posts

Posted - 20 April 2009 :  18:07:23  Show Profile  Reply with Quote
Hi

you need to identify the house as previously disposed of within the last 5 years.

you also need to declare the 25k in the unsecured section as " mortgage shortfall after reposession"

you also need to identify the one account in the bank account section.

who would have thought that such a simple concept as the One Account becomes such a pain in insolvency proceedings

Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com

Real People ..... Real Debt Solutions
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