A MASSIVE thank you guys-THAT NR form

MicheH

Ok, so in my interview with the OR she said to let Northern Rock know that we have gone bankrupt over the phone but to hand our keys in at a branch (but getting receipt)

We're not in our new rental house yet (get keys tomorrow) but thought I should call NR to let them know about postion of house.

I spoke to an advisor where she insisted that the BR only covers the loan and not the house and to get going with voluntary reposession we would have to send back the paperwork where they would verify our signature.

Ha, THAT form I thought. I decided to put her on the spot about the form and asked about the wording. She said she couldn't go through the wording and all she could say was it was a standard form for bankrupts and non bankrupts. I then said that if it is a standard form it's likely to be asking us to sign for liability for any shortfall in the property. She was shocked to say the least. She didn't know how to respond but then said that without the signature on the 'paperwork' they could not begin with voluntary repossession and would file for court proceedings against us. I replied with words like i'll be calling the official receiver about this as I'm acting on her instruction. She said they would be happy to talk to her (check of the upstart!) but no one could start voluntary reposession with those forms being signed by the homeowners.

Rang OR but on holiday till Monday.

Again, just thanks because it sounds like thy're very sheepish about what the paperwork actually is and I'm disgusted that it wasn't mentioned in the pphonecall - passing it off as just a way to verify our signature. No doubt OR will tell me to go to a branch and hand in the keys anyway and I guess i'll have this problem again but i'm not bothered, I know where I stand, I know I don't have to sign this form and I know that the OR's office is a call away, i'll make a fuss in branch without a doubt.

I would have signed those forms you know, I just do everything as I'm told believing that I must do what they say.

I feel empowered and thats all thanks to you all

tigerfeet2006

I think she meant that the shortfall for the house won't be included in your BR untill the property is sold and the debt becomes unsecured. Up untill then they can chase you for the mortgage arrears. She is also right that they won't do a vol repo if you don't sign their paperwork and you will have to wait until they get their act together and take it to court, which could take a while.

Don't forget to let the council know when you move out so you can get the 6 month council tax break.

DON79

I would be so tempted to sign it "Mickey Mouse" and send it back and see if they even notice!

I hope it gets sorted out for you soon though & best wishes. Just sit tight and let them get on with it.

Donna

MicheH

I appreciate that she's right in what she's saying, I even understand that it is NR's policy to not go ahead with Vol. repo. without the paperwork signed. What I am complaining about is the FACT that there was no mention of liability for anything regarding these forms and even when pushed she couldn't tell me what I was signing for, only just to say that they needed the paperwork to verify our signatures.

Now that's wrong! I don't care how educated or knowledgable any of us are, there's people out there who are completely gullable, completely in shgock at haing to go down this route, scared of rocking the boat because we're dealing with laws, debt, many legal forms and conflicting interests and advice.

I was doing exactly what OR had asked me to do with calling NR and letting them know we would like to go for voluntary reposession. I was following officail instruction which led me to believe me MUST go ahead with vol rep therefore we would have signed anything egarding the process.

It's wrong, wrong, wrong that we could have been potentially led down the garden path with what this signature meant. Like I said, i'm not arguing nr procedure or policy, I'm arguing about this telephone call which clearly was hiding what the 'paperwork' meant in regard to our signature.

MicheH

Thanks Don, it'll be fine I know, I'm just peeved at being treat like a fool.

Thanks Tigerfeet, I knew about the 6 month exemption. I think it looks like we'll end up paying CT at the end of 6 months though

ifonlyitwaseasier

re the CT, can you not tell them that you've given the key's back to the lender and that they are now responsible?

peachyprice

ifonlyitwaseasier wrote: »

re the CT, can you not tell them that you've given the key's back to the lender and that they are now responsible?

The lender isn't liable until they officially repossess.

After the 6 months you may still get 50% unoccupied reduction.

peachyprice

MicheH wrote: »

I appreciate that she's right in what she's saying, I even understand that it is NR's policy to not go ahead with Vol. repo. without the paperwork signed. What I am complaining about is the FACT that there was no mention of liability for anything regarding these forms and even when pushed she couldn't tell me what I was signing for, only just to say that they needed the paperwork to verify our signatures.

Now that's wrong! I don't care how educated or knowledgable any of us are, there's people out there who are completely gullable, completely in shgock at haing to go down this route, scared of rocking the boat because we're dealing with laws, debt, many legal forms and conflicting interests and advice.

I was doing exactly what OR had asked me to do with calling NR and letting them know we would like to go for voluntary reposession. I was following officail instruction which led me to believe me MUST go ahead with vol rep therefore we would have signed anything egarding the process.

It's wrong, wrong, wrong that we could have been potentially led down the garden path with what this signature meant. Like I said, i'm not arguing nr procedure or policy, I'm arguing about this telephone call which clearly was hiding what the 'paperwork' meant in regard to our signature.

That's NR in an nutshell though Mich, they're out an out liars and will try any trick to get you to sign that form.

Thank goodness you know better, but I really feel for those who don't and have fallen for it.

MicheH

Oh, thanks P I hope I can qualify for 50% reduction. We'll have to see. I'm refusing to worry about 6 months down the line though - that's what i'm telling myself anyway