Overturn a "Deed of Acknowledgement"?

script

I’ve noticed on a few threads that if you voluntary surrender your house back to the lender.

The lender will try and press - gang you into signing a “Deed of Acknowledgement”

Which you should NEVER sign – as any shortfall would not be included in your BR.

Is that absolutely certain?

Lets say you tried to explain to the OR – that you genuinely felt you had been coerced into signing – and you were not really aware what the documents meant.

Could the OR overturn the “Deed of Acknowledge” and deem any shortfall as a provable debt in Bankruptcy?

tigerfeet2006

If you sign the Deed of Acknowledgement after you go BR hten you acknowledging that you owe the money and basically create a new debt, which as such cannot be included in your BR because it was incurred after your BR date. They can be overturned BUT it is a lot of very hard work and heart ache and hassle and it very much depends on whether the OR can be bothered with it all. So in short it is better to just tell the mortgage co. to foxtrot oscar and just wait it out untill the house is sold and the shortfall automatically falls into the BR.

I'm all for the simple life me!!

script

Tigerfeet,

Thanks so much.

And I absolutely agree with you.

I did think that in exceptional circumstances a "deed of acknowlegement" might possibly be "overturned" - but I can imagine how hellish that might be - with no guarantee that it would be cancelled.

So as so many people have correctly said - never ever sign a "deed of acknowledgement"

MicheH

I most certainly will not! Thanks all!

OR told me to go into a branch and hand in the keys, I need a receipt to say I have done so.. I bet I get a nice sheet of paper to sign slipped in there too. NO WAY, i'll be ready for that one, even if I am a quiet little mouse who does as she's told

script

Miche,

Good for you.

And remember if they say "Madam just sign here"

As you said - You know exactly what to say.... a big No Thanks.