Vol Repo -some urgent advice please!

Shattered_Dreams

Hi all
Sorry I've not posted in a while, but it's been manic! I know there's other threads on here about this subject, but I'm on a time limit as I need to get this sorted by tomorrow.

The BR petition are now filled in and we're about to apply for the court date, which is looking like sometime in August.
We are having the house re-possessed on a voluntary basis and have had the form sent through from the mortgage company.

I have the help of an advisor who has told me I have to sign the form, which includes admitting liability for the shortfall. I read on these forums that was a big no-no, but she was adamant that it was OK, so long as we sent the forms back before applying for the court date, the shortfall would be included in the BR

Is she right - I'm so worried that I follow her advice and end up being liable down the road and that would totally break me!

tigerfeet2006

From what I understand if the form is signed before BR then you should be fine as you are acknowledging to the debt to be which will then be cleared in BR.

If you sign after BR then you are in affect acknowledging a new debt and could then have a fight to have it included in the BR.

Hope that makes sense.

asbestos2008

we were advised not to sign the form as it wont be included in the BR. We are in the same boat as yourself.
hopefully someone else will have some more advice:o

So_Sad_Angel

I was also advised not to sign form...before or after. My situation is a bit different as ex-oh already BR ( & discharged) & I`m not quite BR yet...although I never signed BI request & house still not repo`d ! .....my situation gets more complicated by the day!!!

Phew.....why can`t I be a simple case!! ( no wise cracks please!!) :D

So_Sad_Angel

asbestos2008 wrote: »

we were advised not to sign the form as it wont be included in the BR. We are in the same boat as yourself.
hopefully someone else will have some more advice:o

... forgot to say....Hi Asbo !! hope you are OK honey!

Angexx

peachyprice

You don't have to sign the forms, the house will still be repossessed but it will take longer.

Shattered_Dreams

Thanks guys, I need to get the forms off tomorrow (oops - make that today!! I'm so exhausted by all this I fell asleep!)
Peachyprice -would refusing to sign the forms be looked on badly by all concerned? I was told that we should aim to be out of the house before we go BR.
I'll take my chances that it will get included, I mean what else can they do, they can't bankrupt me twice right?
Although, knowing my luck lately............................

So_Sad_Angel

Good luck Shattered,

Remember that any debt incurred before BR debt ( also if secured then include it in your BR petition) is in the remit of the BR process. Signing after BR is the no-go as it creates the new `unsecured` debt post BR.

Good luck

Angiexx

Lightattheend

I signed one of those forms for voluntary repossession but it was well before my BR, and in fact it was the low value the mortgage lender sold the house for which pushed me into BR. It did speed the process up and as far as I am aware my shortfall is now included in my BR.

peachyprice

Shattered_Dreams wrote: »

Thanks guys, I need to get the forms off tomorrow (oops - make that today!! I'm so exhausted by all this I fell asleep!)
Peachyprice -would refusing to sign the forms be looked on badly by all concerned? I was told that we should aim to be out of the house before we go BR.
.

It doesn't matter when you leave the house, before or after BR, It won't 'look bad' to anyone except the mortgage company if you don't sign the forms.

curlybabe_2

Shattered dreams - we are going through the same as you
phoning the bank on monday to tell them

Good luck