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HI, Can any one help me? I was made redundant from a good job about 2 years ago. I got another jobay in a warehouse and got behind with my morgage and a secure loan on it. I managed to get my morgage up todate which it still is however the warehouse job was not for me and I became ill with my diabetis and then depression. I was off work for 3 months, then when I went back I was laid off because of the time I had off. Any way I now can no longer pay the morgage or second secured loan. I do have a little bit coming in £430 pm from a military pennsion. (This means I get no help from the goverment in any form as it is over the £69 a week you need to live on. My family has suggested I move back to near them and rent. This will not be easy to do as I don't have the money to rent. I would be able to get Housing benift if I get rid of my house. I have now be asked to contact First plus Solicitors as they want there money. I now know I will loss the house either by repossition or me handing the keys. The questions I have are:-

 

1. If I go bankrupt and there was a shortfall between what my house was sold for and the amount outstanding. Would I still have to pay the amount outstanding?

 

2. Who would I send the Keys back to Firstplus or my original morgage lender?

 

3. Would it be better to be repossed by First plus and then go Bankrupt or go bankrupt first?

 

4. Would going banrupt first clear both the morgage and second secure loan?

 

5. Would I loss my RAF penssion as it is my only income? I;m 50 + and having a hard time looking for a job. Thisis one of the reasons I need to move for as well.

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Hi Zulu

 

Welcome to CAG

 

The guys will be happy to advise as soon as they are available.

 

Does the mortgage or loan have a PPI cover?

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