Decided I am going for bankruptcy and house repossession

kerrypn

Hi Tiddlywinks

If you look back, strad was urged to seek advice, and offered ideas on different options-but if he decides to go BR he will be given as much support as anyone else here I think-it is a support board not a judgement board which is why people have reacted so strongly to some of the comments made to OP on his other thread.

I agree that OP needs to take time to make this decision, however if he takes advice and still goes BR then I think he should be treated with no judgement.

As to his depression, none of us are doctors I dont think, and even if we were, no doctor worth his salt would judge the severity of depression on an internet post.

I suspect that there are things regarding OPs mental state that he would rather not disclose due to the stigma attached to mental health issues and also his privacy. Of course, I could be completely wrong too, but I dont intend to judge anyone I dont know anything about.

I just think some of those comments were plain mean.

bundly

My thoughts

1. The house does NOT have to be PERFECT to be let. So long as the price is right you WILL be able to find a tenant for it, if you wanted to. Also, don't tell the lender if they don't allow subletting -- simple!

If this was MY position I would let the house to cover the mortgage, move in with my family, and spend some months thinking carefully not acting rashly.

2. It takes AGES to get repossessed. It's not like the bailiffs come and fling you out of the house the moment you decide to stop paying. This happened to a very close friend of mine. He stopped paying and it took nearly a year before the lender took him to court for possession, and even then he was given 6 weeks to vacate.

Tiddlywinks

Thanks MicheH - I really believe the OP is in pain - as anyone would be when left by their partner. However (and I'm no expert just have had close ones with long term severe depression) I do not believe his actions are anything other than calculating revenge - that is why I wanted to break it down into comments to get rid of the "noise" and show the stark reality of his plans.

topaz1975

From what I understand, in response to 'out of cash's post. While you are in Bankrupty, no new debts can be added and you are not liable to pay them. However, any new debts after you are discharged a year later, are payable.

In response to Stradlinho's post, I don't think that going BR is 100% the best option for you. However, from the knowledge I have gained about this area of the law, given that you are now on benefit, I do believe you would most probably be forced into BR by the Mortgage company all things considered. I think a defualt notice would first need to be issued against you, and then they would take it from there. I am so sorry you find yourself in this situation, having worn a similar T-shirt in the past, I know about your mental health being very much effected, and indeed you health in general. I didnt go BR but my credit file did have to take the hit in order to clear my debt. I like you also had a perfect credit rating until I made the most massive decision of my life to enter an IVA. The best and worst decision of my life..... to this day. My debts are paid in fall in that respect, some 2 years ago now. But the aftermouth is clear on my credit file. Unfortunately, with BR you will have to declare it for another 9 years after you are discharged when applying for jobs. There are also certain positions that you are not allowed to hold in the world of work once you have been made bankrupt. I wish you all the very best. I also hope you get the right advice as so many people dont. I heard of someone going bankrupt for 20K and that could have been paid in the Debt Management Plan so easily. So I felt very sad for them indeed. Good luck ;-) Kes

out_of_cash

MANY THANKS TOPAZ1975,

just wanted to add my ex has been on jsa for 14mths and no ones tried to br her yet and shes also carrying 26k of unsecured debts.dont know what to make of that as the creds put huge ammount of pressure on me for 2yrs non stop until i went BR.