How long after OR interview till u knew if u had lost ur house?

foulplay13

Worriedandpreg wrote: »

There are two 3 bed semis in our road that are up for sale for 195 they do have an dowstairs bathroom tho that we dont have. What they go up for and what they sell for are different subjects tho. Other than that the last house to sell in our road was last July for 185 thats the same as our plus a dowstairs bathroom again which we dont have.

I take it you have looked at the useful links regarding BR and your home?

Worriedandpreg

The stuff on the insolvency website, yes, it all depends what they deem our house to be worth. I just need to know how long im going to be in limbo for im very scared.

foulplay13

http://www.insolvencyhelpline.co.uk/bankruptcy/what-will-happen-to-my-home.php

dack_2

Worriedandpreg,

You are in a tough situation and I can imagine the worry you must be feeling. Easier said than done I know, but try and think positively at least for the next few days. In the OR interview, if he/she does not mention the BI I think you should ask about it. You may also express your concerns over your insecurity of you and your baby's future, they are human after all and may be able to answer some of your questions.

dack

Worriedandpreg

Thanks Dack i told him this a week or so back when he called and he said it can take upto 2-3 months now i dont know if that means to get an answer or to buy out the BI?

foulplay13

Worriedandpreg wrote: »

The stuff on the insolvency website, yes, it all depends what they deem our house to be worth. I just need to know how long im going to be in limbo for im very scared.

The time it takes the OR to assess your finances, only they can really answer that question...


Consider my position, I can't afford to go BR (my wife and I)...

We've already lost our home and they want there money...

Our joint IVA is to failed next week, so all the creditors will be coming after us..

And we've acquired more debts (domestic as a result of moving home)...


That is unsettling.

Worriedandpreg

foulplay13 wrote: »

The time it takes the OR to assess your finances, only they can really answer that question...


Consider my position, I can't afford to go BR (my wife and I)...

We've already lost our home and they want there money...

Our joint IVA is to failed next week, so all the creditors will be coming after us..

And we've acquired more debts (domestic as a result of moving home)...


That is unsettling.

Why cant u go BR? Can u not raise the court fee's u can get some help with this?

Yes ur situation is very unsettling and im sorry to hear it.

I am just scared this stress will cause me to loose my baby.

dack_2

Worriedandpreg wrote: »

Thanks Dack i told him this a week or so back when he called and he said it can take upto 2-3 months now i dont know if that means to get an answer or to buy out the BI?

I believe this will be the time required to get back with an offer you can either accept (hopefully £1 + £211 fees) or make a counter-offer if the BI is a more substantial amount.

Hopefully someone else can chime in with some first-hand experience.

Worriedandpreg

dack wrote: »

I believe this will be the time required to get back with an offer you can either accept (hopefully £1 + £211 fees) or make a counter-offer if the BI is a more substantial amount.

Hopefully someone else can chime in with some first-hand experience.

Thanks so if he says the BI is 10k can someone make a lower offer and he may except?

payingtheprice

Hi,

This is how it went for us:

4th June - Bankrupt

24th June - OR Interview. Our OR was pretty good and helpful and when i asked what to do with our house, he said to carry on with the process of the repossession. he had arranged a driveby valuation but hadnt had the result back as of that date.

7th July - Received letters to see if i wanted to buy the BI.

Obviously all cases are differerent and we cant afford to stay in our home, hence the repo but thats the timescale we had.

I realise its hard for you and i do sympathise as we have 3 kids and nowhere to go when the house is repo'd, as the council have not yet approved our application, but try to stay calm and hopefully everything will come out okay for you.

HTH