Birmingham midshires repossesion

stintond

Hi everyone
I am new to this forum , me and my wife went bankrupt in january , and we left the house to be repossesed , we had midshires on the phone saying we will still be liable to solicitors fees and also for us to fill out some forms to carry out the vol repossesion.
they are saying that this method will be less costly to us than going through the court process.
I thought bankruptcy meant that you could just walk away from the whole thing , also weve been told we have to pay half the council tax on the old house even though we dont live there anymore
any ideas.........:huh:

Puzzledbubbles

I dont have experience of this myself but i would say phone your OR who will be able to explain everything? My OR has been invaluable!!!!!

HTH

Puzzled

Tobiwan_Kenobi

I would have said that it will all fall into your BR, so nothing to worry about. As PB says, speak to your OR and they should be able to put your mind to rest.

SkintYokel

Hi Stintond

I can speak from experience on this one as it's pretty similar to our situation.

Bankruptcy only covers unsecured loans so if you were still in the house then your mortgage/secured loans wouldn't be covered.

However, you say that you have left the house to be repossessed? If this means that you are living elsewhere now then Birmingham Midshires can add all the charges they want to, it won't affect you as without the house these are now unsecured debts and will fall in your bankruptcy.

Same goes for any shortfall after the sale of the house, it's no longer secured so goes in the pot with the rest.

If they want to play silly devils and drag it out then that's entirely up to them but my advice would be stay strong, don't worry and leave them to it!

SkintYokel

Oops, sorry. Just spotted the council tax bit!

We wrote to the council (who had sent us a council tax bill for our old property) and told them that we had voluntarily surrendered the property giving the name and address of the mortgage company.

A couple of weeks later we got a letter back saying that we were no longer liable for the tax and we didn't pay a penny

Hopefully you will get the same outcome.

beentheredonethatstilhere

As Skint says stay strong and don't panic. What they are trying to get you to do is sign a deed of acknowledgement so you will still be responsible for any shortfall. They are playing silly !!!!!!s and unfortunatly until the house is sold and becomes an unsecured debt and falls into your bankruptcy then they can continue to do so. Just let them do what they want and spend the money they want and when they sell the house it will all fall into the bankruptcy pot what ever fees they add.

The OR will not be interested until the debt becomes unsecured.

beentheredonethatstilhere

SkintYokel wrote: »

Oops, sorry. Just spotted the council tax bit!

We wrote to the council (who had sent us a council tax bill for our old property) and told them that we had voluntarily surrendered the property giving the name and address of the mortgage company.

A couple of weeks later we got a letter back saying that we were no longer liable for the tax and we didn't pay a penny

Hopefully you will get the same outcome.

Some councils do this for the first six months the property is empty and then after six months if the property still hasn't been repossesed then you usually have to pay 1/2 the CT untill it has been.

sieve

Yes as beentheredonethat has said, do not under any circumstances sign a deed of acknowledgement. If you do this post BR, it can create a new debt which won't be covered by your bankruptcy and you will remain liable for any shortfall.

So long story short - you can hand your keys back to them, then it is their problem and all solicitors costs etc that they may incur are not your problem. Just don't sign anything!!!!

Cheers

S