I’ve gone down the repossession route and have a question. My bankruptcy expires near the end of August (bar the IPA and BRU). I’m planning on having any shortfall owed to the mortgage company and second charge lender after the sale incorporated into my bankruptcy as a ‘provable debt’ and effectively written off. However, although the repossession has already taken place, the process of selling the property is dragging on and isn’t guaranteed to be completed by the bankruptcy expiry date. If the sale takes place after this date, will the shortfall still qualify as a provable debt?
Thanks SG
Edited by - Sunshine_Girl on 27 July 2009 09:43:12
Was the property repossessed during the time you were BR? If so, then any shortfall should be included in the BR. If the mortgage wasn't put on the SOA then you should inform the OR just to make sure that the shortfall is included in the BR.
Repossession: does the sale have to be completed b
Posted - 27 July 2009 : 09:29:22
