Giving the keys back - advice needed

[Katie30]

Thank you Kirsty for your advice. Im just a little worried because I am not in arrears with anyone at the moment, I have stopped direct debits for my debts and end of this month I will then be in arrears. I havent told the mortgage company that I am moving out is that right?? I keep thinking Im going to do all of this and they turn down my request for bankruptcy, they cant do that can they?? unless they can see you have more money than you say. I am moving out this saturday do I need to inform anyone or should I just send the mortgage company the keys when I have finished?

 

It is a worrying/stressful time as you well know, I know I will be better off after it all and I know I will probably get an imcome payment order but I think thats only for 3 years, my debts are going to be going on a lot longer if I carry on the way Im going.

 

I must admit it is so comforting knowing there isnt just my hubby and I going through this, at the time you just think u are the only ones. When I came on here and read the posts it really perked me up.

 

Thanks for your advice.

 

xx

[Katie30]

Hiya again sorry to keep pestering you but Kirsty what do they ask you in your appointment when u go bankrupt, what happens.

[luckythirteen]

Hi Katie,

 

U dont need to notify the mortgage company, just send the keys recorded delivery with a note advising them of who you are, a mortgage account or reference number and that you can no longer afford the payments on the house. Do not sign the letter either.

 

After we did this, they called us saying we needed to sign some forms saying we were giving the house back. Alot of people say do not sign anything but it is fine to do so BEFORE the bankruptcy. As anything signed after, could mess it all up and u could end up owing money to people!

With regards to council tax, the local council had to wait till we signed the letters and posted them back to the mortgage company and then they mortgage company would notify the council that you are no longer there, until this happens, you will be liable for council tax.

When u go to the court for the bankruptcy petition, they dont ask anything really. They just check over the forms, making sure its all filled in correctly, make u swear an oath on a bible and then take your money! They stamp your forms and get u a copy and advise how long it will be till someone calls you, all depending i suppose how back logged the judge is at the moment!

Hope this helps, any other questions, just ask!

Kirsty

 

PS. After i went bankrupt i was worried about a bank account, but i went to Barclays and they had no issue at all about it! Set 1 up and gave me a visa debit card! Not a solo card that my bank before i went bankrupt gave me!

[Katie30]

Thank you so much Kirsty, you have really helped me out a lot. I cant believe they issues you with a visa debit, thats really bad for them but good for you hee hee.

I know they also freeze your bank account, do I take out all my money before they do or do I leave the money in and let the official reciever give us spends for the month?

xx

[Katie30]

Also I got the bankruptcy forms yesterday, ohh my god there are a lot of pages and it all looks complicated, who helped you fill them in Kirsty coz I have been to citizens advice before and cant get through the 1st person to get to a financial advisor to help us, they say 'have you considered your options, what about an IVA etc...' I dont want a IVA or anything else for that matter, got too many debts, I want to be stress/debt free.

 

xx

[luckythirteen]

Hi Katie,

 

i filled in the forms myself, but the CCS did tell me if i wanted help, to give there bankruptcy line a call.

There is alot of forms but u can do it online slowly, so when u have all the information you need, you can fill it in online and you dont have to do it all at once as it takes ages! Go to The Insolvency Service Website and fill it in on there.

With regards to bank accounts, yes the day i went to the court i took everything out... i was gonna leave some in but my husband said to me that it might be months before i get it and i didn't want the hassle if they didn't give me it back. So just take it all! My bank haven't contacted me since i emptied it and went bankrupt (i had no debts with this bank either) so i assume they were contacted by the official receiver and closed down?

I had a lot of issues with people saying have you consider this and have u thought about an IVA.. its annoying as i had a lot of debts with Northern Rock who do not accept IVA at all! The CCCS told me not to consider an IVA as Northern rock never accept them.. its strange really as with an IVA they would of got something back but now i had to go bankrupt they get nothing!

And they wonder why Northern rock went down the pan!

When you get to the courts you are advised to see someone and talk about the bankruptcy 1st, like to discuss if its the right option and to make sure you are aware of all the consequences of it.

i did not do this as i have talked it through with the CCCS many times and was aware it was my only option, and i think i knew everything they was to know from all the leaflets the CCCS sent me and things on the internet (one being this website!)

I hope this helps!

 

Kirsty.

[heidi1974]

hi katie, we have just gone bankrupt in may and just sent the keys back in july, best thing i have ever done.

 

just make sure you include the house in the bankruptcy or you may end up paying if there is a shortfull. if you need a hand with the bankruptcy forms just feel free to email me on here. the cca said my forms where the best they have ever sin, just had to go and have them checked to make sure i had done everything write, funny thing they asked me if i wanted a job lol!!

i wish you and your husband all the best, we are just waiting to be rehoused with the council as we are in temp housing, was going to private rent but it was to expensive round where i live, but as we have gone bankrupt we could not do that now anyway!!

 

all the best heidi

[Katie30]

Hi, Sorry to keep asking questions but its all so confusing. here goes

"We had a court hearing in October for a loan we wanted to make lower payments on, the decision was to put a charging order on our home, they said we have to write to the solicitors acting on behalf of Natwest to agree to the charging order. We havent done anything because since then we have decided to go bankrupt, my husband has now got a hearing date for the same thing (to make lower payments), we have changed the date of the hearing because we want it a late as possible to give us chance to go bankrupt etc. We have now got a letter for the charging order (so I take it they have already done it without us signing anything), where do we stand with this if we go bankrupt, does this just get put in the bankruptcy or do we leave them to argue it out with the mortgage company?

 

Sorry its just so hard to explain. Also I have an appointment with CAB on the 11th December to fill in the bankruptcy forms for me, do you know if they take it over and do everything for you?

 

Many thanks

 

xKatiex