vol repo question

rockinfreakapottamus

hi all

me and the wife have decided to go bankrupt ,we want to give the house back as it is in neg equity.
all my payments on the mortgage are up to date , the guy at cab told me to stop paying it as the arrears will be included in the br.
what about the shortfall of the house sale if it is sold after i go br .would i still have to pay this??
has anybody had to do this

cheers:beer:

payingtheprice

Hi Rockinfreak,

Have you got somewhere to go or rent? If not dont voluntarily hand your keys back as your local council/housing association will not help you.

If you stop paying the mortgage (as we did), you will get letters/phone calls from your provider. We stopped paying ours in March, just had our repossession hearing and date is at end of September.

Everything that you owe on Mortgage and secured loans will be included in your bankruptcy.

PP

rockinfreakapottamus

we are staying at my folks place which is fine ,this way we can save as much as possible and then be able to rent somewhere by paying the rent up front.
we dont actually live in the house we own we rent that out but the tennant is moving out in oct so it should not affect him.
just feels a bit strange as we have enough to cover the mortgage at the moment but as soon as the tennant leaves then we are up the creek.
will the or frown upon this as we have enough to pay at the moment.
we were thinking that the mortgage money could be used to cover the br fees

any thoughts