IMPORTANT - Voluntary repossession forms and bankruptcy

Tupperware_Queen

just makes you wonder how many other poor souls have been given duff advice!

fermi

Well, I can't recall anyone signing the "deed of acknowledgement" by mistake who was then made to pay the shortfall.

There may well be people that has happened to, but I haven't seen it. Here at least.

(Someone is bound to come along right now and say that they were. )

Regardless of that, it is a risk that you just shouldn't take. Mortgage shortfalls can be so significant, that they could easily mean someone having to actually go BR again.

Sboot3

So, in really basic terms - before BR sign anything, after BR don't sign anything?

I've decided BR is the way forward for me, definitely need to get rid of my property, and just need to get my head around what the timeline shoud be for all of this.

Thanks everyone on here, this forum is so helpful!

daniel1507

I believe I have made the mistake of signing " a return of keys form" post bankruptcy. Does this mean that I am now liable for the debt or can I argue this in court?

SteveABC

Wrote to mortgage lender on day of BR advising I had moved out, was BR (included certificate) and would not be making any further payments. I enclosed keys.

They have written back stating they are not repossessing at this time and asking if I want the keys returned, or they will destroy them in 7 days (how will anyone buying get access?)

Do I just ignore?

fermi

daniel1507 wrote: »

I believe I have made the mistake of signing " a return of keys form" post bankruptcy. Does this mean that I am now liable for the debt or can I argue this in court?

Depends entirely on what the form said?