debt and bankrupcy help

[sequenci]

Hello there.

 

You can go bankrupt wheneever you wish, either before or after you hand the house back. Since you took out the mortgage before the dtae oft he bankruptcy order any shortfall would be included. What you must not do, though, is sign a 'deed of acknowledgement' - which has the potential to make you liable for the shortfall debt after the bankruptcy. In short, never sign anything a lender tries to get you to sign unless you know what it is - or that you've sought further advice.

 

If you have any further questions regarding the process please give me a shout!

 

Seq.

[sequenci]

Hello again. How many people live in the household? If you have children, how old are they?

[sequenci]

can anyone tell me if selling my home can all the costs for doing this come off the house sale? Obviously we have no money and dont really know what we are doing!

 

Yes, that's possible. You may also see if you lender has an 'assisted sale scheme'.

[sequenci]

company If you are going to go down that route, be sure to include absolutely everything, as you can still be chased in 6 years for things that you forgot to include.

 

That's not right. Any debt would be included so long as it's a debt which is 'provable' in bankruptcy. So even if there are debts missed off the application they would still be included.

 

Seq.

[sequenci]

The shortfall can be included within your bankruptcy. Please do not sign a 'deed of acknowledgement' after the bankruptcy date as this has the potential to make you liable for it once again. In short you don't need to sign anything the lenders tries to get you to do.

[sequenci]

They might do that but you shouldn't really worry as that will go in your bankruptcy too.

 

They cannot really do a great deal within weeks. Try not to worry too much

[sequenci]

Thank you so much, I called the bank and they said would stop letters for 28days! its a start and will keep them off my back for now.have a nice weekend.

 

Thanks, and you

[sequenci]

Hello there. Put it in writing that unless they accept the F&F settlement you'll be petitioning for your bankruptcy. It should hopefully show them that you mean business. Whether or not they accept is totally down to them of course, but it's certainly worth a go for sure

[sequenci]

That is generally the way that creditors update credit files as far as F&F settlements go.

 

Experian have reliably informed me that a 'P' flag doesn't have much bearing on credit scoring via potential lenders although it's likely to flag up with them - and it could trigger manual intervention rather than a lender using an automated process. This could cause difficulties as some lenders just don't really bother with manual credit scoring. So, I guess the answer is dependant on whether or not you're interested in taking out credit going forward.