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Bankruptcy and delayed voluntary respossession

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Hi,

 

I am after some advice regarding bankruptcy and voluntary repossession.

 

After losing a previous job,

I am approx £8k a year down on my wages.

I am currently in arrears on my credit card and loan repayments.

 

Up to now my mortgage is up to date,

but despite my best efforts to cut back on expenditure

I still cannot make ends meet.

 

I do not want my house anymore as there is work that needs doing to the property

I have no way to finding the money or repaying it if I did.

 

What I have decided to do is fie for bankruptcy and ask the mortgage company to voluntarily repossess the property.

I have read everything which I hopefully need to know regarding the debt, shortfall and not signing any deed of acknowledgement.

 

However, my plan regarding a place to live has fallen through and at the moment I am not in a position to have all the money needed for a deposit elsewhere.

 

My question is

once I file for bankruptcy and continue making the mortgage payment,

can I hold off asking for a voluntary repossession for say 6 months.

 

Obviously I will request a repossession before the end of my bankruptcy/discharge,

but can I actually do this or would the OR not allow this.

 

I have searched high and low but cannot find a definitive answer other than asking for a repossession when going bankrupt.

 

Any feedback would be much appreciated. Thanks.

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why go BK?

 

list your other debts

if they are consumer credit.etc

then drop them to


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