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Being made bankrupt for mortgage debt.


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Hello all.

 

I got refered here from moneysavingexpert.com and I hope you can help.

 

I have so many questions that I do not know where to start.

 

I am being made bankrupt by Lloyds TSB for a mortgage I ran away from in 1996 or 1997 with my then wife.

 

They want 20k off me, which in my mind is a silly figure but I am sure they are watertight on it.

 

I was recently negotiating with them and I offered 3k they said they wanted 15k. They offered me 3k as a settlement about 12 months ago.

 

I have only been in contact with them through their solicitor and have spent 2 weeks waiting for a reply to a begging email asking for a more lenient settlement. I emailed him to see if I had missed anything he may have sent and he said they are not negotiating anymore and will just go to court.

 

This has me very worried, I just thought we would haggle and come to an arrangement. I, wrongly, assumed they would prefer some cash to making me bankrupt.

 

I have looked at my bankrupcy summons and I have to put any opposition in 7 days before the court date. The court date is next Thursday.

 

 

I know there is a lot more to be said, and I will answer any questions, but here are a few questions I would like answered.

 

The biggest one; Why are they not negotiating?

 

Am I liable for my ex wifes half? She lives in Thailand.

 

What can I petition against this?

 

Can I get the court date set back to better prepare myself?

 

Does the judge have any powers to amend the amount owed?

 

Thanks in advance

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I think you are in the wrong forum on this but i can answer one of your questions, you are joint and severally liable, which means they can get the money from either or both of you.

But not after 12 years

Please note i have no legal training any advice i give comes from my own experience and from what i have learned on this site

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I think its secured debt or mortgages, the other thing they may have stopped negotiating to frighten you, and may well resume if you dont bite, they have probably written most or all of this off their books already, depending how old it is.

I notice sequenci is looking in on this thread, whom i knoe is very knowledgeable on this, so i hope he replies.

Good luck

Please note i have no legal training any advice i give comes from my own experience and from what i have learned on this site

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If it is a 12 year debt, and you havent acknowledged the debt, any chance it is statute barred?

7 years in retail customer service

 

Expertise in letting and rental law for 6 years

 

By trade - I'm an IT engineer working in the housing sector.

 

Please note that any posts made by myself are for information only and should not and must not be taken as correct or factual. If in doubt, consult with a solicitor or other person of equal legal standing.

 

Please click the star if I have helped!!

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I think its secured debt or mortgages, the other thing they may have stopped negotiating to frighten you, and may well resume if you dont bite, they have probably written most or all of this off their books already, depending how old it is.

I notice sequenci is looking in on this thread, whom i knoe is very knowledgeable on this, so i hope he replies.

Good luck

I shall try on there as well, thanks a lot.

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Hello all.

 

I got refered here from moneysavingexpert.com and I hope you can help.

 

I have so many questions that I do not know where to start.

 

I am being made bankrupt by Lloyds TSB for a mortgage I ran away from in 1996 or 1997 with my then wife.

 

They want 20k off me, which in my mind is a silly figure but I am sure they are watertight on it.

 

I was recently negotiating with them and I offered 3k they said they wanted 15k. They offered me 3k as a settlement about 12 months ago.

 

I have only been in contact with them through their solicitor and have spent 2 weeks waiting for a reply to a begging email asking for a more lenient settlement. I emailed him to see if I had missed anything he may have sent and he said they are not negotiating anymore and will just go to court.

 

This has me very worried, I just thought we would haggle and come to an arrangement. I, wrongly, assumed they would prefer some cash to making me bankrupt.

 

I have looked at my bankrupcy summons and I have to put any opposition in 7 days before the court date. The court date is next Thursday.

 

 

I know there is a lot more to be said, and I will answer any questions, but here are a few questions I would like answered.

 

The biggest one; Why are they not negotiating?

 

Am I liable for my ex wifes half? She lives in Thailand.

 

What can I petition against this?

 

Can I get the court date set back to better prepare myself?

 

Does the judge have any powers to amend the amount owed?

 

Thanks in advance

 

I have re-posted this from another forum for more help

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creditcardmug, if i understood the OP correctly the house was sold/disposed/dumped, back in 199x so wasnt sure if this was still secured on the property or not, but thought it safe to asume the property was long since sold of so this is now an unsecured debt, hence why i pointed the OP to this forum, dont know if that helps at all or cofuses things further

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creditcardmug, if i understood the OP correctly the house was sold/disposed/dumped, back in 199x so wasnt sure if this was still secured on the property or not, but thought it safe to asume the property was long since sold of so this is now an unsecured debt, hence why i pointed the OP to this forum, dont know if that helps at all or cofuses things further

 

Hi i took it to mean this was a shortfall issue, something that happened to me a long time ago, so was giving what ever advice i could based on that.

Regards

Please note i have no legal training any advice i give comes from my own experience and from what i have learned on this site

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Hi i took it to mean this was a shortfall issue, something that happened to me a long time ago, so was giving what ever advice i could based on that.

Regards

Thats why i sent the OP to this Board, i know it was a shortfall, but for the purpose of BR it must now be unsecure so as far as Bankruptcy is concerned its an unsecured debt, but wasnt sure how its orgins effected how you could fight it, as im not up on property related finance, i wasnt questioning your view, as i dont know, just explaining why i sent the OP to this forum, sorry if it came across wrong

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Honestly...am I missing something here? WWW, have you acknowledged this debt? If you havent, then I fail to see how it is owed at all.

7 years in retail customer service

 

Expertise in letting and rental law for 6 years

 

By trade - I'm an IT engineer working in the housing sector.

 

Please note that any posts made by myself are for information only and should not and must not be taken as correct or factual. If in doubt, consult with a solicitor or other person of equal legal standing.

 

Please click the star if I have helped!!

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"I have looked at my bankrupcy summons and I have to put any opposition in 7 days before the court date. The court date is next Thursday."

 

So simply oppose it you will get all the assistance you need for your defence here on CAG

 

 

Regards

 

Andy;)

We could do with some help from you.

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"I have looked at my bankrupcy summons and I have to put any opposition in 7 days before the court date. The court date is next Thursday."

 

So simply oppose it you will get all the assistance you need for your defence here on CAG

 

 

Regards

 

Andy;)

 

I love hearing stuff like this:)

 

How do I oppose it?

 

 

on what grounds?

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As far as I know, NO debt is excluded from the statute of limitations.

 

I am not sure what would be classed as "acknowledgment" in this situation *scuttles of to read statute of limitations*

7 years in retail customer service

 

Expertise in letting and rental law for 6 years

 

By trade - I'm an IT engineer working in the housing sector.

 

Please note that any posts made by myself are for information only and should not and must not be taken as correct or factual. If in doubt, consult with a solicitor or other person of equal legal standing.

 

Please click the star if I have helped!!

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Submit a defence on the grounds that the debt is unenforcable for what ever your argument is and the reasons why they cant enforce it.What options are in your summons?

 

Andy

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHER

 

Have we helped you ...?         Please Donate button to the Consumer Action Group - The National Consumer Service

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OK dates come into play now. Secured loans/mortgage shortfalls have a 12 year limit.

 

On what EXACT date did you leave the property? During your recent communications, have you ever explicitly agreed that you owe them money?

7 years in retail customer service

 

Expertise in letting and rental law for 6 years

 

By trade - I'm an IT engineer working in the housing sector.

 

Please note that any posts made by myself are for information only and should not and must not be taken as correct or factual. If in doubt, consult with a solicitor or other person of equal legal standing.

 

Please click the star if I have helped!!

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Submit a defence on the grounds that the debt is unenforcable for what ever your argument is and the reasons why they cant enforce it.What options are in your summons?

 

Andy

There are no options. it just says if I want to oppose it (my words, the docs are at work) it must be done 7 days before

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OK dates come into play now. Secured loans/mortgage shortfalls have a 12 year limit.

 

On what EXACT date did you leave the property? During your recent communications, have you ever explicitly agreed that you owe them money?

It was definately earlier than 12 years:(

 

And I may have agreed to owing them money:evil:

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Hi you need to download Insolvency Form, 6.19 Notice by Debtor of Intention to Oppose Bankruptcy Petition

 

 

Regards

 

Andy

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHER

 

Have we helped you ...?         Please Donate button to the Consumer Action Group - The National Consumer Service

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Thats a shame WWW - was a possible avenue, never mind. Good luck.

7 years in retail customer service

 

Expertise in letting and rental law for 6 years

 

By trade - I'm an IT engineer working in the housing sector.

 

Please note that any posts made by myself are for information only and should not and must not be taken as correct or factual. If in doubt, consult with a solicitor or other person of equal legal standing.

 

Please click the star if I have helped!!

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