Still cant believe what Ive been advised to do!

blind-as-a-bat_2

keepmyhouse wrote: »

Infact Ive panicked too much before thinking rationally, Im going to save the mortagage money under my matress, and stay put for now, that way I can see what the OR wants to do with the house first. If he shows no interest in the house then I will negotiate with the mortgage people, Ill tell them I have money for missed payments (all but the 2 month arearrs) and are they happy to carry on as normal. But then again could they screw me over by saying yes and I pay any arrears then they still repossess? If they wont agree to "no repo" I will move out not forgetting future rent payments from under my mattress I have air in my lungs and three lovely kids, and van rentals at the bottom of my street

Its good being in a no lose, all win situation, (removing emotional issues of course) isn't it;)

Its the emotional bit that is the spanner in the works :rolleyes:

keepmyhouse

So let me get this straight I can stay here for now, even hang on to the mortgage payment for a month while I find out whats going on??? But then if the payments increase with interest rates, or I get harrassed by he ex, I can move out and the horrible B*****d will be responsible for any repo shortfalls.

I saw a spirtiualist couple of weeks ago, "she said think before you act, do not make hasty decisions " " there will be ups and downs" "stop biting back at one who continues to hurt you" "things will be better for you soon" " you will even be repaid in some way"

Richard_S

Hi keepmyhouse,

One of the biggest problems with answering the questions you pose is that there are so many different scenarios and you don't say for sure which one is your desired outcome.

The advice you got from CCCS is clearly erroneous, and I appreciate all that does is make you even more unsure of the best way forward.

If you could clearly state what you want the outcome to be then I'm sure we could make some reasonable suggestions as to how you can achieve that.

"Reading between the lines" I assume your ex is probably abusive; you'd ideally like to stay where you are, and you're as confused as h3ll as to whether that's a possibility.

If I'm right, then I can probably suggest a way forward, and if I'm not, then say where I've got it wrong.

I don't always get the chance to look through the forums everyday, but I do log on regularly to check for P.M's.

Regards

Richard

Richard_S

Hi again keepmyhouse,:D

Decisions relating to a property in bankruptcy are a nightmare, and they're infinitely worse when a relationship has broken down, so don't be surprised that you're struggling to decide what's best for you and your children.

Looking at the facts as you've related them:

• You're only two months in arrears; your bank or building society won't even have you on the "watch list" at the moment. We had almost 12 months arrears and still managed to keep our house.
• The O.R won't be in a hurry to do anything with your house, so there's absolutely no need to make any hasty decisions about renting a property. Even if you ultimately decide it's best to rent you'll get plenty of time, especially when children are involved.
• It is possible that the O.R will look at the amount you pay in mortgage and secured loan and conclude that you could rent somewhere a lot cheaper, but I've never heard of that happen to a family when children are concerned. Obviously if you were living in a mansion with a mortgage of £5k a month you'd be expected to move out at some point, but I'm sure that's not the case with you.
• The chances of getting your ex off the mortgage are probably not good while there are still arrears because it potentially reduces the lender's options if you ultimately default on the mortgage.
• Your ex is in an extremely weak position and if you play your cards right you should be able to frighten his "sorry a5se" off the mortgage as soon as your lender will allow.

If I was in your position, my course of action would be:

• Stay put and see what happens with the O.R. I think you could well be pleasantly surprised with the outcome.
• Contact your ex and inform him that unless he agrees to sell his B.I to you or your brother for a nominal £1, then you intend to quit the house, declare bankruptcy and let him pick up the bill.
• When you're approached by the O.R about the B.I go ahead and purchase it yourself or let your brother purchase it.
• Once you or your brother own the B.I it doesn't matter that your ex is still on the mortgage, it doesn't give him any rights to force you to sell, or share in the proceeds of a subsequent sale.

In summary, take a step back, don't do anything in a hurry, take professional advice if you can afford to, or immerse yourself in the legislation if you can't. The Insolvency Service have a help line where you can email specific queries, so keep bombarding them with questions and let us know what the results are.

If you can aford to pay the mortgage and the secured loan, then I don't see any reason why you shouldn't be able to keep the house and ultimately get your ex out of you life completely.

It won't be easy, there's always something that tends to complicate things, but it's certainly achievable if you're determined enough.

Best regards

Richard

DelhiBelly_2

Im still sat in shock from my discussion with CCCS.

I had it all planned....................... carry on paying the mortgage, and and something towards the 2 month arrears from ages ago..............my brother pays £1 for BI........................and one day get my ex off the mortgage.........................................................................

Then just like that the bloke ses.......Find somwehere to live quick, they will repossess when they find out you are BR?????????...............Dont worry any shortfall after repo will be included in your BR??????????

""But I have paid it on time for 8 months why would they reposses???????? Mmmmm, "because they will he said" "Just do it chick and get you own back"

I though I would be encouraged to try and save my home Im shock shock shocked, now looking for house to rent in absolute panic......

He said the OR will look to sell it anyway because I could rent cheaper

Didn't see this coming, plan not worth the paper it wor written on, never assume always research more first

Hi KMH

Did you get this advice from a counsellor at CCCS or their Bankruptcy Support Team? I really think that you need to go back to CCCS and discuss this again with somebody in the Bankruptcy Support Team and definitely mention the previous advice you were given because this staff member clearly needs to made aware that they are giving out incorrect info

CCCS_Matthew

Hi there, just caught this thread.

If there is no equity within the property, and your budget supports the cost of the mortgage then it's extremely unlikely you will be made to sell the property.

If your mortgage was unreasonably high in comparison to renting, the OR may force sale if it meant there would a reasonable surplus to offer to the creditors via an IPA. On the face of the information you've provided via the post it doesn't seem as though the mortgage payments are particualrly high at all, so I really can't see this happening.

Is it possible that you could PM me with your CCCS ref no, and I can follow this up for you?