urgent help repossession

[heidi1974]

hello all, i really could do with some help, no one can really answer my question.

 

we had gone bankrupt on the 27thmay, on the 5th june we also had to go to court for an order for possession on our house, the judge gave us 42 days, so we moved out on the 23 july into temp housing, as we thought the eviction letter would be 7 days after. we are still waiting for the eviction notice, i have rang g e money up wednesday and they have said its going to be another 5-6 weeks before they start to get a bailiff warrent, then it could be another 3-6 weeks after that for the appointment.

 

my question is i have 2 secured loans on the property, if we volentry send the keys back what would happen to the secured loans.

as we had a phone call off one of the secured loans and said if the house is not been repossessed then we still have to pay the loan.

the council will also not let us be rehoused untill we have the eviction notice.

[heidi1974]

can anyone help me !!!!

[struggler123]

hey

 

If you give back the guys cos u have left the lender will sell the house.

 

The secured loans will be paid out of any proceeds after the first mortgage is cleared.

 

If there is not enough money to pay them off then they will expect you to clear the debt. However, this will form part of your bankruptcy so you will not have to pay it!

 

Not a lot of point in paying them therefore, but thats my opinion!

 

beware thoughm ive read that if you send the keys back, then they could see you as having made yourselves homeless and the still wont house you!

[jansus]

if you have already moved out - and need permanent housing I would check with shelter first for advice. If you hand the keys back you will at least avoid the bailiffs costs - which you will be charged for.

 

The other ting as well is to consider your insurance position and who is responsible and is the house secure etc.

[Crapstone]

hello all, i really could do with some help, no one can really answer my question.

 

we had gone bankrupt on the 27thmay, on the 5th june we also had to go to court for an order for possession on our house, the judge gave us 42 days, so we moved out on the 23 july into temp housing, as we thought the eviction letter would be 7 days after. we are still waiting for the eviction notice, i have rang g e money up wednesday and they have said its going to be another 5-6 weeks before they start to get a bailiff warrent, then it could be another 3-6 weeks after that for the appointment.

 

my question is i have 2 secured loans on the property, if we volentry send the keys back what would happen to the secured loans.

as we had a phone call off one of the secured loans and said if the house is not been repossessed then we still have to pay the loan.

the council will also not let us be rehoused untill we have the eviction notice.

 

Have you spoken to your OR? If you are bankrupt I would imagine that they they would be dealing with your creditors. Usually you would still be responsible for all the payments but if they are included in your BR it shouldn't make any odds now.

[heidi1974]

hi everyone thank you for the messages, i have spoken to the br and they have told me that the secure loans will be paid out of the sale from house, but if there is not enough money left then the loans will be unsecure and be written off with the br.

 

the house is already been repossessed but just waiting for the evicion notice, but want to send the keys bk voluntary, but have been asked by the mortgage firm to sign the paper work before i send the keys bk, it does state that we will have to pay them if there is a shortfall in the mortgage (but we wont to have to pay this will we) as we went br in may!!! bit confussed about that!!!

 

but have been told that if there is a shortfall then it is coved in the br is this right.!!

 

could do with someone helping me before i sign this letter to the mortgage and then handing the keys bk.

 

thank you heidi x

[Ell-enn]

Hi, I would just check with the OR first, ring them and tell them what is in the letter.

[heidi1974]

ok thank you Ell enn.

[heidi1974]

hi again,

 

i have rang up the br and they have said because the house was included in with the br, the shortfall will be in with the br thank god!!

 

so going to send the signed form bk then i will send the keys back the day after!! ( by recorded delivery).

 

Also as the house has already been repossessed the council are still going to give us a house, so should only be in temp housing for a bit longer (i hope) !!! HERE COMES TO A NEW START!!!

 

THANK YOU TO EVERYONE WHO HAS HELPED ME IN THE PAST ABOUT DEBTS, BANKRUPTCY, REPOSSESSED X X X