Hello and thanks

nervousmother

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DON79

Hi nervousmother

your story is so sad, I am sorry you have had such a hard time of it and still are too by the sounds of it. I think you are not going to be alone with the mess that Northern Rock seem to have created for you! I cannot believe they would not let you sell for a 30k shortfall then proceed to whack on loads of interest and charges and then proceed to sell at a massive 116k shortfall - that is just so so irresponsible as a lender! Well all I can say is they will get their just desserts now that you have gone BR.

re the equity in your current home, if a family member can buy this for you, that is good and should mean you can keep your home. The second buy to let property is likely to get taken by the OR as an asset though.

Your car ought to be safe as it is essential for work but I cannot tell you how the OR will view your husbands motability car - perhaps someone else can help with that.

do keep us informed and we will help as much as we can. and big (((((hugs))))) too and well done to you.

Donna

nervousmother

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eklynne

Hello to you too
I am a newbie also and in only a week or so I've went from being on the verge of suicide to as strong as I've felt for a long time, all thanks to the advice and kind words of the fantastic people on this site. You will too. Get comfy and try not to be too nervous, you'll need that energy for the road ahead.
*hugs*

startagain_2

nervousmother wrote: »

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I feel bad for the overdraft on my bank account as i had banked with natwest for years and years. I had spent about £1.5k during november and december (as i have every year) I had thought id get to keep my bank account and my wages were due to be paid in on the 5th jan (1 day before br) the advice i received though told me they wouldnt let me keep the account and i should get my wages in cash otherwise i wouldnt have anything to live off during january, if i had have let them go in i wouldnt have been that much overdrawn so i feel bad for this, and also nervous as to what the OR will say or if he will think iv acted badly

Don't worry nm,

Most of us have had to leave our banks that we have had for years. I was the same. I took my last lot of wages out in cash even though I owed them over £9k in a loan, o/d and c/c, but we have to pay our rent and bills and feed ourselves, don't we?
That is how the OR will see it. I also used mine to pay my BR fees. It was the only way.
Hugs...

SA

DON79

Hi, am glad that you won't lose the motability car.

am sure if they take the btl house then they will deduct the income, after all, you won't have that money coming in anymore so it physically won't be there.

Guilt and shame are normal but you have to let go and move on, feeling guilty will not change things as they are now, best just to let it go. It seems as though this was something unavoidable forced on you with the NR situation.

Lots of people go BR with big overdrafts so do not worry about that, it is probably surprising the amount of people who live out of their overdraft each month and clear it each month when their wages go in. it just so happens that you had to make a decision and that was to save your wages being swallowed up in order for you to have money to live on for that month.

All the best

Donna

nervousmother

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philnicandamy

Dont worry about your car mine's a mobility one & they were fine not touched AT ALL......motability did ask though if I could send a copy of the BR order (strange I know!)

nervousmother

Can anyone give me any advice on IPO? we are a family of 5 and after our expenses will have around £260 per month spare this includes child benefit of £175 though, is there a set way for them working out how much we will have to pay? im hoping we wont have to pay anything as will need to make repayments for the BI in our home :-(

peachyprice

Hi NM, with a surplus of £260 including child benefit you won't have to pay an IPA, if your suprlus goes over £99 + £185 CB you will.

nervousmother

Thank you, another question. surplus of £99, is that per adult? we are both going bankrupt or is that 99 between us?