We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
really confused about it all (reposession and bankruptsy)
Comments
-
Just wanted to say hello and welcome to the board
you will get lots of good advice here, and everyone is really friendly. 0 -
hello!!!! :-D0
-
You could go BR, stay in the house for a few months, stop paying the mortgage and secured loan and save up towards rental payments - my house was repo'd about 6 months after I stopped paying them and that was by the secured lender - the back are repo'in later this month.:j Goodbye debt - Hello sanity! :j0
-
You could go BR, stay in the house for a few months, stop paying the mortgage and secured loan and save up towards rental payments - my house was repo'd about 6 months after I stopped paying them and that was by the secured lender - the back are repo'in later this month.
It depends on how soon you need to BR - you could just stope paying mortage and loan, stay in house for a few months, save up some cash, move out into rented and then go br (be careful about tenant agreement here - some evict if tenant goes br) (or br before you move out) - either
way, sounds like you have no choice but to give up the house - hope all goes the way you want.:):j Goodbye debt - Hello sanity! :j0 -
thanks, yeah thats what im trying to decide, i think i want it all done before we move out i hate the idea of finding somewhere to rent then being turfed out! but if we have a big bit of rent ready they might not mind th br so much.0
-
Mitzi - our landlord was fine about the BR, most of them are happy as long as they get paid!!0
-
jellygirl, did you tell the landlord you were/were going bankrupt when you found somewhere to rent? how did they respond?0
-
cheers Doucam, did you go bankrupt before you moved?0
-
jellygirl, so was the house reposessed after you were declared bankrupt?
yeah thats right - 1st by the secured loan company and the bank will repo later this month - I suppose they both have to do this so they have rights to their interest in the property.:j Goodbye debt - Hello sanity! :j0 -
No, we had been here for about 10 months when we went BR.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards