bankrupt 2 properties with ex, not living in either

wildthing46

Hi
I am new to this just gone bankrupt 2 wks ago, spoke to the OR this morning. I live in a rented property and have been since I left Satan 8 mths ago. Own 2 other properties with my satan of an ex, he lives in one and is in arrears but paying the interest, the other was a buy to let let out to his niece, he made her move out the other month and that's in arrears now as a result and sitting empty. This was to try and force me into more financial trouble, forgetting he was on the mortgage and this would also affect him. I cannot live in this other property as he is on the mortgage and it would be unsafe to, violent idiot.

The OR told me to forget about the properties now as I dont and have not lived in either of them for over 8 mths now and won't be living in either ever again. I have no interest in either property, no equity in the one he lives in, probably negative, and there is little in the rented one if any about 10 k which they will go after to pay my debts. What will be the effect on me, the OR says this all goes into the BR, but what worries me is this going to bite me on the a** in 3 yrs time, as I will still be on the mortgages, I think they will force the sale of the buy to let one.....what does the OR mean by don't worry it's inc. in the BR....

How can I get closure on all this, he can't get a transfer of equity, the building society have been totally unhelpful, and I don't want to be chased for any debt after my br is discharged in 'n' years???

Any help please anyone????

thanks

peachyprice

Your OR is right, it doesn't matter how long after your BR the houses are repossessed/sold, 1 year, 3 years, 10 years, your BR relieves you of any liability for any shortfall forever.

The only person it's going to bite on the bum is your ex, he will be liable for 100% of anything owing

wildthing46

thanks peachey, that is a wonderful thing to hear, he will get what he deserves...you reap what you sow....thanks:T :j :beer: :eek:

wildthing46

I went bankrupt 2 mths ago and it took sometime for the OR to send letters out, I sent letters out explaining and attaching the order. The phonecalls & letters are still coming from the building society. Satan has still remained in the property and I got a letter this morning off building society stating there is now £5200 arrears, he isn't paying mortgage and is remaining in the property. The OR has written to him and he hasn't responded, the Building soc. has written and he hasn't responded.

The building society are trying to get me to sign a document to sell the other property that his niece was renting. They are asking for voluntary re-possession and state that he has already signed a form the same and asking me to sign accepting responsibility for arrears and shortfall. I understand this would avoid going to court but I refuse to sign anything accepting any debt or shortfall. The OR told me again to forget it and send letters in to them, they have not had a response from the Building Society.

The building society told me on the phone they are not interested in me being BR that the law doesn't include the mortgages arrears and shortfalls in a BR and that they are taking me to court.

I told them I have no job, I have been sick for 3 mths, going for another op. in 4 wks time and will be off for at least another 3 months and that's if all goes well. No job at the end of it. I told them to chase my partner who is a teacher and earns £35k a year and who is living in the property and has keys for the other property and who is paying nothing, and why have they allowed him to live there for so long without paying . I also told them that the houses are not my issue any more and that they were included in my BR. They laughed and said they were not and said see you in court.

JCS1

wildthing46 wrote: »

I went bankrupt 2 mths ago and it took sometime for the OR to send letters out, I sent letters out explaining and attaching the order. They have a target of issuing report to creditors in 8weeks, suspect they are taking longer due to the volume of new cases at moment The phonecalls & letters are still coming from the building society. Satan has still remained in the property and I got a letter this morning off building society stating there is now £5200 arrears, he isn't paying mortgage and is remaining in the property. The OR has written to him and he hasn't responded, the Building soc. has written and he hasn't responded.

The building society are trying to get me to sign a document to sell the other property that his niece was renting. They are asking for voluntary re-possession and state that he has already signed a form the same and asking me to sign accepting responsibility for arrears and shortfall. DO NOT SIGN!!!!!!!!!! I understand this would avoid going to court but I refuse to sign anything accepting any debt or shortfall. The OR told me again to forget it and send letters in to them, they have not had a response from the Building Society.

The building society told me on the phone they are not interested in me being BR that the law doesn't include the mortgages arrears and shortfalls in a BR and that they are taking me to court. Technically, only unsecured debt is included in BR, but when the properties are repossessed the secured debt then becomes unsecred and is included in your BR.

I told them I have no job, I have been sick for 3 mths, going for another op. in 4 wks time and will be off for at least another 3 months and that's if all goes well. No job at the end of it. I told them to chase my partner who is a teacher and earns £35k a year and who is living in the property and has keys for the other property and who is paying nothing, and why have they allowed him to live there for so long without paying . I also told them that the houses are not my issue any more and that they were included in my BR. They laughed and said they were not and said see you in court.

They're talking rubbish, when the properties are repossessed, the debt becomes unsecured and therefore included in your BR. As joint mortgage, the debt then passed in full to you ex.

Merry_Gentry

As long as you don't sign the acknowledgement of debt form, any shortfall from the sale of the houses goes into your bankruptcy - regardless of how long it takes them. They are latching onto you because they are having no luck with your ex - basically, sit tight, ignore them, and let them do their thing.

nervousmother

The building society told me on the phone they are not interested in me being BR that the law doesn't include the mortgages arrears and shortfalls in a BR and that they are taking me to court:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Chloepad1

The building society cannot do anything to you, your legal responsibility for the debts, including arrears and shortfall, ended when you filed for bankruptcy. They are desperately trying it on with you because they know there is little or no chance of obtaining money from your ex. Smply pass any horrible and unwanted mail from them to your OR. Definitely don't sign anything from them.

wildthing46

thanks everyone, good to hear, he has apparently signed a form accepting it, but i don't believe them, how can they say in one line they have not heard from him and then try and con me into signing the same cos he has signed....

bit anyway thanks a load........a load off my mind....

wildthing46

I am getting very confused with all the stages with br, so i had my initial call on the court day with OR, then the tel. int. 10 days later. Spoken to them regarding issues with the properties lately, see above. Letters gone out from OR, I note an insolvency practitioner is added on my insolovency file, i gather this is to deal with my car, and the 2 properties i don't live in. What happens next. I am not working due to accident and still awaiting further surgery. Only in receipt of benefits. How do you know if they have finished investigating? What is all this talk of BRO and BRU and at what stage do you know they are going to do any of this? I still have my car although because I am still disabled and my be able to return to work in the near future, they say I may be able to have it sold and have another one worth a lot less. it's been 2 months now nearly and I hate not knowing what is going to happen next.

wildthing46

:mad:they came and took car today at 1200 hrs.....now I know what being stripped means........empty, lost, don't know what to do????????????????.....drink///????/:beer: