Repossession 48 days And bankrupt

[heidi1974]

Hi All,

 

we had to go to court on the 5 june 09 for repossesion of our lovely home, i was told not to attend, but rang the cab and was advised to attend, that way i found out the day we would have to move out, instead of waiting another week before the letter to arrive.

 

We had been advised to go bankrupt and to let the house be repossessed due to the amount of debt of £80,000 and a mortgage of £155,000.

The debts we was only paying £1.00 to each and the mortgage was £970.00 a month interest only.

we could no longer pay these due to my husband being layed off work in march, i worked only part time at a school since october 08 cleaning just to give us some extra money to pay some bills, when my husband went to sign on in march and they said he has not paid enough NI so he had to claim income based JSC, because i was only earning £4200 a year we was told to make a joint claim, so we did, but then was told by job centre that i was earning to much money that my husband would not be getting any money at all. since then we went bankrupt on the 27 may 09 that went fine but there all day just to get seen by the judge. i have now handed in my notice on the 29th may at work as we will be better off with me not working as it was costing me £35.00 a week in petrol. We have also got a phone call from the insolvency that day asking a few things about the house and the car, that went all ok, but we have got another phone interview with them on the 18 june. (dreading that one). I had also went to court then on 5th june about the house, the mortgage firm tryed everything for us to keep the house but for the last 12 months its been really hard so we was not fighting to keep it at all. when i got to court they asked if i wanted to see the duty solicitor i said no, but 5 mins before going into the court room i had to see the solicitor, he wanted me to keep the house, and get the hearing canceled i said no thank you i do not want to keep the house because of the amount we was having to pay each month, my husband was on really good money and he will never be on that much ever again, so we will only be in the same boat again in a few months time if he finds another job. he said ok then, they will only give you 28 days to get out of the house, i told him i need longer due to me having a little boy and 3 dogs we have no where else to live and my husband has got very high blood presure, and im having a few problems with my little boy, so when he pointed it out to the judge, the judge asked the mortgage solicitor he said they want the house bk within 28 days the judge order was 48 days, but i was also told that the by the time they get a bailiff warrent it will be about 9 weeks in total.

we are so pleased something is being done, just want to say thankyou to everyone on here who has helped us. im not saying everything is ok know but its a weight of our minds that we are debt free and mortgage free, might sound bad but life is to short to keep worrying where the money is comming from to pay the next mortgage payment, and my husband having to work 6 days a week to keep the roof over our heads. we want to start to enjoy life, and start living.

BEST THING WE EVER DONE !!!!

[angel_1]

hiya heidi

 

just seen your post as i was logging off, i understand what you are saying and if you know that its the best thing for your family then a fresh new approach is what is needed now for you

 

i wish you and the family much luck and success in the future and right now its your family that is very important and the health of all of you is far more important than money and the stress in keeping your home

 

a fresh and positive start for all of you and sleeping at night is now important to you

 

sad to see this happen but you are now the owners of your future destiny

 

good luck and keep positive laters angel x

[sequenci]

Hello there. I'm glad things are going well and that you are getting your situation sorted.

 

I thought I would raise something just to make you aware of it.

 

What ever you do please DO NOT sign 'A deed of acknowledgement' from the mortgage lender. This could make you liable for any mortgage shortfall once the property has been sold - regardless of the bankruptcy. So in a nutshell, don't sign anything you're not sure of!

 

Just a heads-up!

[GLADSTANES]

I was under the impression that you were liable anyway for any shortfall once the property has been repossessed.

 

Would be grateful for clarification.

[sequenci]

I was under the impression that you were liable anyway for any shortfall once the property has been repossessed.

 

Would be grateful for clarification.

 

You would be. However, in a bankruptcy the shortfall would be included within it - even if the property was sold after the point of discharge of bankruptcy.

[heidi1974]

thank you for the posts, this is what i was told that the short fall from selling the house would be included in the bankruptcy. But i will also make sure that i do not sign anything from the mortgage, thank you for that info.

just cannot wait to move and start a new life for our selfs, and be glad when its all over and done with. we are also really sad having to give our house up as this is our family home for the last 8 years, but can start living a new life and a new start, be happy, no more worries. just hope the council can hurry up and find us some where else to live.

[mike032]

hi im new to this.

i am just wanting some info.

we are in our house but have had enough of chasing to pay bills etc

i need to now a few answers can anyone help.

we have a mortgage of 160k

a secured loan of 14k left to pay

a home assittance loan from council for 8k secured on the house as its needto be paid if we sold the house

unsecured of 8k

totalsecured 182k

unsecured 8k

if we went BR would all this get included or would we still be liable

any help would be great and sorry if in the wrong pls

also if we sold the house in all about 28k-30kshortfall

just want a new start

[heidi1974]

hi there i would say go bankrupt, thats really the same as us, it will clear everything that you owe, you will come out of it owing nothing. but the bankruptcy costs £360.00, £150 court costs unless you are on low income, or benefits.

you will also get other help on here, i would also say go and see your citizens advice they will help you.

 

all the best and good luck.

[rachebabe1971]

Hi there dont bank on council being quick to rehouse we lost our house 28th april and council havny even given us a priority yet even though we are homeless it depends on your case officer ours is a w____r he told us 4 weeks a go we had priority extra our locak councillor who we had asked for help checked last week our priority isnt even on housing computer you have to keep on at them because they are useless i suggest getting your local councillor involved. Hope things get better for you we are in same boat my husbands boss hadnt paid his tax and national insurance so my husband cant get his jobseekers and cant get income based at moment as im on maternity allowance till 20th june so we will have to put a joint claim in for income suppor then. Life is **** at moment apart from having my gorgeous 6 month old daughter but hopefully things will pick up keep your chip up life can only get better.

Regards

Rachel

[worried68]

Hi i was wondering if anyone could help me, my houuse went to court on the 1st June and we have 28 days to get out, thats fine, but i want to go bankrupt and im not entirely sure when to do it??? Do i wait until after the repo date, or can i do it now??? Please could some one help as it is really driving me to distraction!!!!!!!!!!!!!!

[sequenci]

Hi i was wondering if anyone could help me, my houuse went to court on the 1st June and we have 28 days to get out, thats fine, but i want to go bankrupt and im not entirely sure when to do it??? Do i wait until after the repo date, or can i do it now??? Please could some one help as it is really driving me to distraction!!!!!!!!!!!!!!

 

You can do it whenever you like, it wouldn't make much difference.

 

If you start your own thread we will be able to help you through the processes

[heidi1974]

hi rachebabe1971 thank you for the message, i have spoken to the council today, i have got an appointment the 23 june to do a homeless form, she did say to me that they could not do a homeless form untill 28 days before i have to move out. but i will do what you have said about the local councillor and see if he/she can help us. because my husband did not sign on two weeks ago because he was bad, they have now sent him hes p45, he is still out of work and im also out of work, so looks like we are going to have to do a new claim again, iv got enough to deal with without them adding to it. iv looked about claiming income support but i did not think we could claim it as we are both fit for work, not sure about it really. where are you living at the moment, have the council sorted you somewhere to stay, as this is the only thing worrying me as i have also got 3 dogs, and we cannot afford to put them in kennals and i will not give them away they are my little babys.

i wish things work out for you and all the best!!

[mike032]

hi heidi hope all is well thanks for the advice

can you tell me if i can go bankrupt while living in the house still.

will they just take the house after i go br then give me the set amount of days to get out

we are finding it hard to find 3 bed house then and all the problems that come with it.so hopefully when they take the house after the 28days are up etc that the council might rehouse us as there are 6 of us all kids under10 so think they would put us in a house as we would need 3 bed in a hostal or bed and breakfast.any morehelp would be good thanks mike

[heidi1974]

Hi mike, you can go bankrupt when ever you want, if the house gets repo you can do the bankruptcy after or before it dont really matter, we done it before the repo, that way you can add everything onto the bankruptcy, including all house hold bills like gas, electric, water, even family tax credit if they have over payed you. i would not pay anything else to the mortgage or bills or debt save money up to make your self and your wife bankrupt, you will get to stay in the house till the house gets repo, mine has only really been going since march and we have got to move out now the 16 july on my birthday lol !!, well this is the date the court gave us to, but the mortgage firm have got to get a bailiff certificate so could be here for another 3-6 weeks. the council will have to find you some where else to live, but just keep on at them, our council are quite good here so just hope they find us some where quite quick now, but i do know you will have to make an appointment at the council and tell them what is going on and get your self on the list asap, wants that is done and you have a court hearing for when the house gets repo i would also make sure you attend it, that way you will know how many days you have to get out of the house, than waiting for a week for the letter to come in the post. once you know the date you have to move out get bk in touch with the council and you will have to do a homeless form, they will only do this 28 days before you have to move out. i would also get in touch with cab that way they can help you and give you advice on what to do, also help you with filling in the forms. but if you need any help on the forms let me know and i will try and help you if i can. i wish you and your family all the luck, if you need to know more feel free to send me a message.

regards heidi.

[JNJL]

Hi i might be wrong but we were told that by letting your house become repossessed you are voluntarily making yourselves homeless and therefore i think you can get shunted to the end of the list. We were advised by the national debtline to find a private landlord and then claim housing benefit, we have done this although housing benefit takes forever to sort out claim - 10 weeks is their average waiting time and they don't seem to care how you find the rent in the meantime!

 

We were really lucky to find a great letting agent who was sympathetic to our situation and didn't do credit references. Probably best to find somewhere before you go bankrupt, thats what we have done so you can get a good few months of good credit with the landlord before going bankrupt. It was difficult leaving our house but will feel so much better once bankrutcy over and house is dealt with, already feel the weight has lifted at not having a mortgage hanging over us!

[heidi1974]

Hi JNJL, Im on the bottom of the hosing list at the moment as we still have a roof over your heads, the council will not do a homeless form untill 28 days before u have to leave. im really pleased that u have somewhere to live, the only thing about private rent its so expensive round here, we are looking at 700.00 -750.00 amonth, if we had to do this then i might as well stay here and claim housing benefit. the good thing is the council will find you somewhere to live and its only from 350.00 amonth to 400.00 amonth, so you will be saving around 300.00 amonth just by going with the council and you have no worries about having to move again. i was in private renting before we brought our house and its so expensive, we had done it for nearly 4 years untill we had to move out because the house was being sold. but within them 4 years we had moved 3 times all for the same reason, this is the other reason i will not go private rent.

i was also told that once the landlord had been told that you are bankrupt then he/she will not renew the contract.

you are very lucky to find a private landlord that has not done a credit check on you, there is not that many out there that would of done it.

 

the other thing is if you include the house in the bankruptcy, then u will not have to pay any money to the mortgage, as i think if its done after and there is a short ful then i think you will end up paying it. (but not sure!!) as it only goes by what you owe up to the time of the bankruptcy, if you owe money after that date of bankruptcy then you have to pay it.

 

we have got our insolvency ringing us up tomorrow at 2.00 and 3.00 still really dreading it.

does anyone no how far we have to go bk to.

[out of cash]

HI Heidi1974,

 

how are things going with you?

 

OOC

 

glenn

[heidi1974]

Hello Glen

 

Thank you for the message, i have sent you a private message!!

 

Hope you are ok

 

chat again very soon.

 

take care

 

heidi.