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OR Interview Outcome
Angiepange
Posts: 3,521 Forumite
Well its over and I am so relieved.
I was so nervous today waiting for the phone to ring, felt sick and shaking. I dont know why I was so worked up but OR rang as scheduled.
He was very understanding, very patient and allowed me a break when I broke down in tears (only the once thankfully!). It was the discussion of why I had to give up my job because of illness that triggered the tears, he allowed me a break and rang me back 5 mins later.
We discussed the car which he said they would be taking but he would allow an allowance of £1000 for another car as I have a provisional job offer which if I accept I will need use of a car for. I feel gutted as I really didnt want to lose the car and realise I will not get much for the £1k he has allowed. I will be contacted by the company that deals with car so I am hoping we may negotiate buying it back with help of parents. Just have to see if we can.
Most importantly we discussed our house. He told me that as we are in Neg Eq he will send us forms to buy the BI from them for a £1 plus legal fees. I asked him if we buy the BI will we be liable for any future shortfall if we vol repo house and he said no any short fall would still fall into BR.
I then asked if we continue with mortgage payments but we decide in the future we cannot maintain payment (ie cos of poss future interst rate rises) would the shortfall still be included in the BR if we leave the home? He said 'as far as he is aware' once we are discharged from BR any potential shortfall if we leave the house after dischage will NOT be included in our BR. As far as he is concerned we cannot include any shortfall in the BR after the discharge date. Now this contradicts info we have gained from this site and when I challenged him on this he said 'my Chief OR is out of office at moment but any shortfall will not be included in BR after discharge and if you are considering leaving house you should make this decision in next 2-3 months as shortfall will be included while you are BR but not after discharge' !!!
I then explained our dilemma of maintaining a mortgage on the SVR and he replied well you will be discharged from BR by then so should have no problem getting a new deaL. I responded with well we will still be BR on our credit file so surely we will find it difficult to get any good deals. He couldnt answer this and recommended getting financial advice.
Interview continued, he asked lots of questions about when debts occurred and what money was spent on and I just answered truthfully. He wanted to know in my own words why I felt I had become insolvent and why I had decided on BR.
The whole call lasted about 45 mins, DH was 30 mins and several times he stressed that we should no longer worry about the debts, that we no longer owed any money to anyone and that he was completely satisfied as to our reasons for BR as we had such a huge drop in income and we would not be liable for an IPA and would not be investigated for any criminality. So thats a relief.
I feel better the interview is over but still have the dilemma with our house which seems to be over shadowing everything.
Thankyou everyone though for friendly advice on this site and being there to talk too. Going through BR, albeit in the early stages has made me realise how strong I can be and how my DH and I are facing what life has thrown at us and finding a way through it all. All the best to everyone else facing BR.
Angie x
I was so nervous today waiting for the phone to ring, felt sick and shaking. I dont know why I was so worked up but OR rang as scheduled.
He was very understanding, very patient and allowed me a break when I broke down in tears (only the once thankfully!). It was the discussion of why I had to give up my job because of illness that triggered the tears, he allowed me a break and rang me back 5 mins later.
We discussed the car which he said they would be taking but he would allow an allowance of £1000 for another car as I have a provisional job offer which if I accept I will need use of a car for. I feel gutted as I really didnt want to lose the car and realise I will not get much for the £1k he has allowed. I will be contacted by the company that deals with car so I am hoping we may negotiate buying it back with help of parents. Just have to see if we can.
Most importantly we discussed our house. He told me that as we are in Neg Eq he will send us forms to buy the BI from them for a £1 plus legal fees. I asked him if we buy the BI will we be liable for any future shortfall if we vol repo house and he said no any short fall would still fall into BR.
I then asked if we continue with mortgage payments but we decide in the future we cannot maintain payment (ie cos of poss future interst rate rises) would the shortfall still be included in the BR if we leave the home? He said 'as far as he is aware' once we are discharged from BR any potential shortfall if we leave the house after dischage will NOT be included in our BR. As far as he is concerned we cannot include any shortfall in the BR after the discharge date. Now this contradicts info we have gained from this site and when I challenged him on this he said 'my Chief OR is out of office at moment but any shortfall will not be included in BR after discharge and if you are considering leaving house you should make this decision in next 2-3 months as shortfall will be included while you are BR but not after discharge' !!!
I then explained our dilemma of maintaining a mortgage on the SVR and he replied well you will be discharged from BR by then so should have no problem getting a new deaL. I responded with well we will still be BR on our credit file so surely we will find it difficult to get any good deals. He couldnt answer this and recommended getting financial advice.
Interview continued, he asked lots of questions about when debts occurred and what money was spent on and I just answered truthfully. He wanted to know in my own words why I felt I had become insolvent and why I had decided on BR.
The whole call lasted about 45 mins, DH was 30 mins and several times he stressed that we should no longer worry about the debts, that we no longer owed any money to anyone and that he was completely satisfied as to our reasons for BR as we had such a huge drop in income and we would not be liable for an IPA and would not be investigated for any criminality. So thats a relief.
I feel better the interview is over but still have the dilemma with our house which seems to be over shadowing everything.
Thankyou everyone though for friendly advice on this site and being there to talk too. Going through BR, albeit in the early stages has made me realise how strong I can be and how my DH and I are facing what life has thrown at us and finding a way through it all. All the best to everyone else facing BR.
Angie x
0
Comments
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Glad to hear it went ok for you Angie, good to hear the OR wasn't too scary.
I have all this to come, I'm dreading my time....
I know I will be in tears when I have to start explaining my reasons-I will undoubtedly have to discuss the breakdown of my marriage-it never affects me to talk about it unless I don't know the person for some strange reason
Not much to say about your house-I get a little dizzy when anyone mentions the concept of BI. I'm sure someone will have something more constructive to say soon.
You are coming to the end!There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.0 -
Hi AP, glad you had an understanding OR who allowed you the time to compose yourself during interview. Sorry can't answer about BI, mine not dealt with yet.2019 MFW No. 74 £13700/£30000 (45.66%)
12k in 2018 No. 98 £6274.19/£18000 (34.85%)
BTL (start) £97440.00 (current) £68000.00
Residential (start) £275000.00 (current) £268000.000 -
Angiepange wrote: ».
I then asked if we continue with mortgage payments but we decide in the future we cannot maintain payment (ie cos of poss future interst rate rises) would the shortfall still be included in the BR if we leave the home? He said 'as far as he is aware' once we are discharged from BR any potential shortfall if we leave the house after dischage will NOT be included in our BR. As far as he is concerned we cannot include any shortfall in the BR after the discharge date. Now this contradicts info we have gained from this site and when I challenged him on this he said 'my Chief OR is out of office at moment but any shortfall will not be included in BR after discharge and if you are considering leaving house you should make this decision in next 2-3 months as shortfall will be included while you are BR but not after discharge' !!!
Sorry Ange, I would ask to speak to someone higher up the chain than that because that information is not correct. Your mortgage remains a proveable debt even after discharge, in the same way as a CC company you may have missed if your form and comes after you in 5 years time would still be included.Accept your past without regret, handle your present with confidence and face your future without fear0 -
Peachy I want to speak to someone higher about this but its all a bit emotional at the moment and I dont want to ring and 'rock the boat' so to speak. Perhaps I should email or put my enquiry in writing? The OR kept saying 'as far as I am aware' when I queried the shortfall after AD and I dont feel that I really got a definite answer to my question. I didnt want to push it too much cos of scared of getting his back up!!
Just glad its over, waiting for car co. to call, any idea how long they generally take? I really hope they will allow us to buy car back if we can get the funds.0 -
Phone OR's Reception and ask for name of the Assistant Official Receiver allocated to your case, and then either write or email them.0
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