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SOA quickie
dollparts
Posts: 1,256 Forumite
Ello, I am filling out the secured creditor part. It asks amount owing-ok fine, but then asks for net amount owing?
What does this mean?
DP
What does this mean?
DP
There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.
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Comments
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For instance if it is a mortgage and your house is worth £100,000 and your mortgage (amount owing) is £120,000 then the net amount owing is £20,000.Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
thought as much but wanted to be sure.
Thanks:)There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.0 -
Have another query if you don't mind. I know that when filling out creditor info you need to state the DCA but the address details of the original lender right?
Only with one particular creditor who have presumably taken over the debt from nationwide visa they have assigned it a new account number.
Not sure which one to use? Can anyone advise?There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.0 -
For instance if it is a mortgage and your house is worth £100,000 and your mortgage (amount owing) is £120,000 then the net amount owing is £20,000.
Have entered oustanding amount, then am asked what it is (house) worth. Have entered market value.
It then shows on summary as net owing= what the house is worth? Is that right?There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.0 -
Have another query if you don't mind. I know that when filling out creditor info you need to state the DCA but the address details of the original lender right?
Only with one particular creditor who have presumably taken over the debt from nationwide visa they have assigned it a new account number.
Not sure which one to use? Can anyone advise?
If in doubt but both down, more info is beter than lessHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Have entered oustanding amount, then am asked what it is (house) worth. Have entered market value.
It then shows on summary as net owing= what the house is worth? Is that right?
net amount owing should be total owing - value of houseHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Have another query if you don't mind. I know that when filling out creditor info you need to state the DCA but the address details of the original lender right?
Only with one particular creditor who have presumably taken over the debt from nationwide visa they have assigned it a new account number.
Not sure which one to use? Can anyone advise?
I would enter the original account number first. That is what you borrowed under and uniquely identifies the debt.
DCAs sell debts on all the time, so by the time you go BR it may have been passed to another DCA.
But add a note in the "extra info" section if you can't include the DCA reference as well.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
I would enter the original account number first. That is what you borrowed under and uniquely identifies the debt.
DCAs sell debts on all the time, so by the time you go BR it may have been passed to another DCA.
But add a note in the "extra info" section if you can't include the DCA reference as well.
Thanks Fermi, I'm having the kind of day where one question leads to many more.....:)
I haven't seen an extra info section as yet. Am completing forms online. Could that be the reason?
btw, is it better to complete forms online or should I print and handwrite?
I know the online forms are printed and formatted anyway but I remember someone commenting that you don't get as much room to make additional comments online?There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.0 -
Anyone know the answer?There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.0
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