mortgage enquiery

PINTACIDER

Hi to all again. For those regulars on here that know we have been bankrupt for a whole week ! and feeling sooooo much relief for it i need some new advice please. Have had a phone call from our mortgage provider asking us to make a token payment towards our arrears before reposession proceedings start , i told them that we would rather hand the keys back voluntary which they have agreed to , what i need to know is if i pay will the O/R look on this as favouritism towards a creditor and also there doesn't seem much point if im going to hand the keys back but would it benefit me in any other way if after 6-7 years i applied for another mortgage ? Should i inform the O/R of there request and let them deal with it ? as usual any advice greatly appreciated .

mazzatee

Hi Pintacider
As you are now bankrupt and any shortfall will be included in the bankruptcy then don't bother to make any payments. The OR could look on it as preferential treatment of a creditor.

Just hand back the keys and let the OR deal with it.

peachyprice

Hi Pinta,

The OR won't look on this a favoring a creditor because your mortgage, while you still have the house, isn't included in BR. Any arrangements you make with them has nothing to do with the OR until the house is actually repossessed, so no need to tell them of the mortgage providers request.

As for will it make a difference in the future, no it won't. Your records will show the repossession, nothing about making token payments.

Unless you feel it might buy you more time then just tell them thanks but no.