Being chased after bankruptcy

copier_guy

Hi Daisy

Apologies if my earlier post sounded a bit 'heavy'.

I wrongly , i am a man!!, assumed that you had already left your house or something and were waiting for a repo date.

Hope you get some good news soon

skylight

The court has given them the right to chase you for the shortfall, because at the moment you are liable for that shortfall so the court has to apply the law.

HOWEVER. Once the property is sold on, then the debt becomes an actual value - its a provable, known debt and then the proveable debt is included in your BR and they cannot chase you for it. But DO NOT SIGN ANYTHING as the mortgage companies hide clauses that will make you liable for the debt after your BR. Have you ever signed anything from them after your BR date??? Anything at all?? If so, what was it exactly?

As to Abbey selling on a debt to a DCA, this is a common occurance. Write to the DCA with a copy of your BR notice and tell them to contact the OR and you do not expect them to harrass you again. There is nothing they can do to you.

Lastly, get onto your council again! Hassle them and speak to Shelter too.

Feelingfoolish_3

Hey Daisymay

You arent alone, many people are here to help. Like skylight said, dont sign anything. Bankruptcy freed you from your liabilities. Please get some advice and feel free to pm me if you want to chat or if you need anything other help x

daisymay66

Thanks everybody. I have been discharged from bankruptcy now. Does this mean that lender could make me bankrupt again (totally pointless, but will they?) with regard to the shortfall that will doubtless occur. In answer to skylight, yes, I signed a paper to say I would allow the house to be marketed (a voluntary assisted sale) for 6 months (roughly June to November 2008). It didn't sell, and the agreement was terminated. Can't find a copy of this paper at the moment, so I may have dropped myself in it!

peachyprice

daisymay66 wrote: »

I think I have to leave. I have no money or other assets. My health stops me working and I have a small pension. The council says it will rehouse me - sometime! But nothing is improved by 'hanging on'. It's very painful to leave, but I think I need to get it over with. Bankruptcy + repossession has been going on for nearly 2 years and the fight's gone out of me.

Definitely do not give the house up for voluntary repo, the council are not obliged to rehouse you if you do.

Thanks everybody. I have been discharged from bankruptcy now. Does this mean that lender could make me bankrupt again (totally pointless, but will they?) with regard to the shortfall that will doubtless occur. In answer to skylight, yes, I signed a paper to say I would allow the house to be marketed (a voluntary assisted sale) for 6 months (roughly June to November 2008). It didn't sell, and the agreement was terminated. Can't find a copy of this paper at the moment, so I may have dropped myself in it!

The form you mustn't sign is a 'Deed of Acknowledgement' this is what they want you to sign for vol repo, if you sign this now you will be liable for the shortfall again, they are trying to trick you into making yourself liable by insisting you go for vol repo. As long as you don't sign the DoA you will not be liable for the shortfall.

HTH

daisymay66

peachyprice wrote: »

Definitely do not give the house up for voluntary repo, the council are not obliged to rehouse you if you do.




The form you mustn't sign is a 'Deed of Acknowledgement' this is what they want you to sign for vol repo, if you sign this now you will be liable for the shortfall again, they are trying to trick you into making yourself liable by insisting you go for vol repo. As long as you don't sign the DoA you will not be liable for the shortfall.

HTH

I didn't know that about the council, so thanks a million - I won't sign.

daisymay66

Sorry folks, another question occurred to me. If I don't sign a voluntary surrender then they will have to evict (presumably). They apply for a warrant. Do they have to tell me they have done so? And how much notice will I have to get out? Also, without signing anything, can I negotiate a leaving date with them, or will this also count against me with the council? I don't want to rock the boat with the council, but it seems silly to involve bailiffs when I'm willing to go. Any ideas, or shall I ask the council?

skylight

They will have to go to court to get an eviction notice so you will be informed. You then generally have 28 days (I think) from then so at least you have notice to get your stuff out.

fiveyearplan

Play it on the safe side and just don't sign ANYTHING!

As for DCAs, I received a letter today from Monument saying I'm in arrears on my credit card - no sh*t! They seem to think I'm only £150 in arrears but I haven't paid anything on that account for 2 years! Ignorant tw*ts!