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hilaryfrances

question for Ell-enn

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Hello Ell-enn,

 

one of my friends has told me that her boyfriend has debt problems. He literally just left his house as he could not afford the mortgage and moved back home. He assumed the house would be re-possed eventually. He also had other debts he "left" behind.

 

I have told them to go the the CAB and ask for their advise as it will catch up with him in the end and it will not just disappear. I know that he has been stupid but the past is the past, I doubt if his case will be unique. Can you give me some idea of what else to say to them please

 

regards

 

Hils

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Hi Hills, sorry for delay- I'm on holiday this week and time on the site is a bit limited.

 

How long ago did he move out of the property? and who is the lender?


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Ell-enn, sorry to bother you whilst you are on holiday, I will find out for you next week, they have found out the house has been sold as someone else is living in it. His post was returned to his bank as it was found by the new vendors! His bank then put a stop on his account until he contacted them. It may all be catching up with him now. He moved out around 2 years ago so it can wait until your holiday is over. Hils

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dont bother with this now but I want to "write" it down before I forget!

 

Building society Northern Rock he left house 2 yers ago

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my friends boyfriend is now thinking of declaring himself bankrupt, he knows he will not be allowed to have any assets, a cheque book,mortgage, or a credit or debit card. As far as I am aware his debts will be gone after 5 years is this correct and what other consequences will there be?

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my friends boyfriend is now thinking of declaring himself bankrupt, he knows he will not be allowed to have any assets, a cheque book,mortgage, or a credit or debit card. As far as I am aware his debts will be gone after 5 years is this correct and what other consequences will there be?

 

Hi Hils

 

have a look in here

 

Insolvency/Dealing with debt


 

 

A-Z Index

 

 

 

 

 

 

 

HOW NOT TO CLAIM...Click here!

 

HOW TO...DUMMIES GUIDE TO CAG...Read here

 

.please remember that any advice i give is purely my own experience or opinion thankyou

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Hi Hils, sorry about delay in getting back to you - it's been hectic back at work after being on holiday last week.

 

There are some banks which will allow bankrupts to have a basic account with a debit card (I think the Co-op's one of them).

 

Most bankrupts are discharged within a year I believe.

 

He really needs to find out how much the house was sold for - there's a website Land Registry house prices & property valuations | Mouseprice where you can search for the sold price of a property (land registry). This will give him an idea of what any shortfall might be.

 

Ell


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There are some banks which will allow bankrupts to have a basic account with a debit card (I think the Co-op's one of them).

 

Most bankrupts are discharged within a year I believe.

 

 

 

Natwest have also let my husband keep his account and debit card (their 'step' account)

 

The discharge is being sorted as we speak, 10 months post bankruptcy hearing.

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