Life after bankruptcy?

out_of_cash

Nohope wrote: »

Hi guys thanks for taking the time to reply, its much appreciated.

Datcat - it does'nt sound harsh, its reality, i know that. It took me months of to ing and fro ing between the OF, the advice bureau, and finally the lender, to establish i was still liable for the amount owing, as long as i was still in the house., ( this is after BR ). I guess i was pretty naive, but you start to doubt it when your still being harrassed by phone calls, letters, and debt collectors still calling round to the house. I've gone round in circles and its all so confusing, but i'm stuck in a catch 22 situation, which is why i've stayed here. I can't make myself deliberately homeless, which is what i've done if i leave the house, even though i have, effectively made myself homeless, anyway I've had to wait for them to take me to court, and then i'll have to wait for the baliffs to officially evict me, i suppose. Thats when i really will be homeless.

So yes, i will have to be nice to the judge, but i can only tell him how it is. And the truth is, that after a year of looking, i know the odds are stacked against me, and i still can't comprehend why one person won't say yes, its yours.I've been told all along, you've got to find somewhere to live, before you go to court, and god knows, i've tried. I've just spent the whole of this week as well, looking, so its a waiting game , largely with the council. But now i've got to concntrate on clearing out the house, which is what i've done today. I've got to be ruthless about it, because whatever i have'nt cleared out, will have to stay. I've already decided that. Theres only so much one person can do. It took my neighbours 3 months to pack, when they moved last summer, and there were two of them. But then, i'm not moving, tecnically, i'm just de cluttering my life.

Amnesty - i wish it were so simple. to get help from work. Thats why i'm having so much difficulty finding somewhere to rent. I'm self employed / freelance, whatever you like to call it. I don't and have'nt ever owned a business. The companies i work for class me as self employed, and therefore have no duty / responsibility towards me, despite the fact i've worked for them for many years. So my decision to admit i can no longer function at work right now, was a difficult one for me. No work, no pay. End of. I've been fortunate i've always had plenty of work, and its taking a risk, that i'll just be able to walk back into work again. No one likes to admit they are off work through stress.

Thats how i discovered my national insurance payments had been frozen in June, and i'm not allowed to pay into them anymore, which to me, is a real worry. I rang to check my payments were up to date, as i had'nt received my bill from them. But i guess, like you say, any small thing, becomes a major issue, at the moment.

But you did make me smile, in your posts, which is something i have'nt done in a long time.

still liable for the amount owing, as long as i was still in the house., ( this is after BR ).


I always thought that any amount owing fell automatically into the br pot at point of sale so any arrears before you go br and after are wiped out in the br????????? i am still in my home until they push to sell it early next year!

Angiepange

out_of_cash wrote: »

still liable for the amount owing, as long as i was still in the house., ( this is after BR ).


I always thought that any amount owing fell automatically into the br pot at point of sale so any arrears before you go br and after are wiped out in the br????????? i am still in my home until they push to sell it early next year!

You are right.

When the house is sold the remaining debt will become unsecured and be included in your BR as long as you haven't signed any agreement accepting liability.

Amnesty

Sorry I`ve not been around ,have been away. As your original post was the reason I joined this board I do worry about your sorry !!! as your story is identical to mine was a few years ago.Thing is it does not matter whether you live in a mansion or are on the streets with you.Your problem is that you are suffering from DEPRESSION.Anybody would be given the !!!! you have had to put up with.That`s the reason you are up and down like a bloody YO YO.I`ve been there that`s how I know,one day fine next day flat on your back.I`m probably the most stubborn little !!!! ever so I know what pushing away and not taking advise is all about.I do however know what you mean when friends say why don`t you do this etc as you`ve allready thought of it.
GO TO DOCTOR.GET HAPPY PILL.WILL HELP IN HAVING THE FRAME OF MIND TO GET YOU THROUGH THIS IN THE SHORT TERM THEN COME OFF THEM.
I will say this again your problem is your frame of mind but it WILL pass.In the meantime allways here,just shout.

ani_26

So_Sad_Angel wrote: »

The old account will be frozen on BR date.....any monies received to that bank account post BR cannot be applied to the account & therefore will be returned to the remitters bank.

If the monies don`t arrive/gone missing then it is the remitters bank that will trace the payment & recall it back.

I would firstly check with the sender tomorrow & see what bank details (sort code/account number) they sent it too....& also if they have had the payment returned already.

Hope that makes sense.

Phew, thank goodness for that. Thats got to see me through the next 5 to 6 weeks.

Aaargh .Just checked, money still not deposited. Will now have to ring this morning. Problems, problems

Thanks So Sad Angel

ani_26

Angiepange wrote: »

You are right.

When the house is sold the remaining debt will become unsecured and be included in your BR as long as you haven't signed any agreement accepting liability.

Thanks xx

I'm still largely confused and concerned, to say the least, about mortgage arrears post bankruptcy, therefore creating a ' new ' debt? as i've been told i'm responsible for that. The propery is'nt even up for sale yet, either, although i suppose that is'nt my concern, or the least of my concerns, at the moment.

I am aware of the deed of acknowledgement or whatever its called though, and theres no way i'll be signing anything, believe me.

ani_26

Thanks for your reply looking ahead.

I'm not sure theres any point to rebuilding my credit rating, to be honest.I've no wish to have credit cards etc, ever again. Back to how it used to be. If you don't have the cash for it, you don't have it. Simple as that. The only use i could possibly find for rebuilding my credit rating, would be with regard to renting, and securing myself somewhere more permanent to live? I know that i will never have a mortgage or aspire to own my own home, ever again.





I woke at 4.00 am this morning, feeling,well tired and drained again. I had a really positive day yesterday, for the first time in an eternity. Beautiful day, go for a walk. I actually set myself a challenge. Packed my rucksack. Right i'll go on a ' proper ' walk today. And i did. I've been saying one day i'd walk to * , ever since i moved in. I made it. I walked all the way there and back, even though i was tempted to take the longer and flatter route home, and then catch the bus the rest of the way. I made it back up the long steep hill, i'd been dreading. I felt elated. I only walked what? 7 miles, but for me it was a huge achievement. I saw some holly, with beautiful red berries. I was even motivated enough to take some photos, it was such a beautiful day. Photos for posterity, huh. I've not used the camera on my phone before, so the photos are probably quite ropey. I don't know how to download them, but if i work it out, i'll maybe post one or two? if anyone would like to see. I'm paying the price now, though for my over ambitious walk. My back aches, my hips and legs, not to mention my feet. My target was to walk the ridge today, too, as i want to do that before i leave, but i'm not sure if i'm up to it now, physically. Its another beautiful day although my spirits have plummeted again. I did'nt think they would, after yesterday.But really, i'm wasting time. Putting off valuable time when i should be packing. I'm nowhere near ready, and theres only two weeks to go.


Hmm, decision made, the weather has changed since i first looked out, cloudy and wet now. I'm so stiff anyway, i can hardly get up, stupid. I must have a day of packing.

Angiepange

Nohope wrote: »

Thanks xx

I'm still largely confused and concerned, to say the least, about mortgage arrears post bankruptcy, therefore creating a ' new ' debt? as i've been told i'm responsible for that. The propery is'nt even up for sale yet, either, although i suppose that is'nt my concern, or the least of my concerns, at the moment.

I am aware of the deed of acknowledgement or whatever its called though, and theres no way i'll be signing anything, believe me.

Hi Nohope

Have a read of Fermi's thread about mortgage shortfall debt and vol repo. Its very informative.

https://forums.moneysavingexpert.com/discussion/2219559

Mortgage arrears post BR are not a 'new debt'. It all falls into what is known as shortfall on the original mortgage, when the house is actually sold, unless you sign a new agreement. Please try not to worry.

My situation is different because of mortgage rescue, but arrears of £5k have built up over the time its taken for my application to go through and that is part of the shortfall owing to the mortgage co on sale of the house. If we had been unsuccessful with mortgage rescue, we would have had to lose the house. All the arrears plus shortfall from the sale (house is in negative equity) would have been covered by our Bankruptcy and I have had this confirmed by my OR.

Thinking of you.

HTH Angie x

DippyDog

Nohope wrote: »

Thanks for your reply looking ahead.

I





I woke at 4.00 am this morning, feeling,well tired and drained again. I had a really positive day yesterday, for the first time in an eternity. Beautiful day, go for a walk. I actually set myself a challenge. Packed my rucksack. Right i'll go on a ' proper ' walk today. And i did. I've been saying one day i'd walk to * , ever since i moved in. I made it. I walked all the way there and back, even though i was tempted to take the longer and flatter route home, and then catch the bus the rest of the way. I made it back up the long steep hill, i'd been dreading. I felt elated. I only walked what? 7 miles, but for me it was a huge achievement. I saw some holly, with beautiful red berries. I was even motivated enough to take some photos, it was such a beautiful day. Photos for posterity, huh. I've not used the camera on my phone before, so the photos are probably quite ropey. I don't know how to download them, but if i work it out, i'll maybe post one or two? if anyone would like to see. I'm paying the price now, though for my over ambitious walk. My back aches, my hips and legs, not to mention my feet. My target was to walk the ridge today, too, as i want to do that before i leave, but i'm not sure if i'm up to it now, physically. Its another beautiful day although my spirits have plummeted again. I did'nt think they would, after yesterday.But really, i'm wasting time. Putting off valuable time when i should be packing. I'm nowhere near ready, and theres only two weeks to go.

When I read this I was so pleased for you.

When we're striving to make ends meet or are caught up trying to work harder than ever to make some more money we can lose sight of what is really special in life.

Taking to time to appreciate the beauty which can be found around us can be so much more rewarding than just material things.

I know this sounds a bit twee and maybe even just a few short months ago I would have laughed out loud at these thoughts but I now realise by changing your focus on life it can get truly better.

My husband and I went for a walk in a country park which is a short drive from our home - the first time we've done that in 15 years - why? Because before we never had time. We had a lovely afternoon despite me initially not wanting to go.

So NH I sincerely hope that you will take more breaks from your packing and enjoy more wonderful days like yesterday.

Best wishes
DD

ani_26

Angiepange wrote: »

Hi Nohope

Have a read of Fermi's thread about mortgage shortfall debt and vol repo. Its very informative.

https://forums.moneysavingexpert.com/discussion/2219559

Mortgage arrears post BR are not a 'new debt'. It all falls into what is known as shortfall on the original mortgage, when the house is actually sold, unless you sign a new agreement. Please try not to worry.

My situation is different because of mortgage rescue, but arrears of £5k have built up over the time its taken for my application to go through and that is part of the shortfall owing to the mortgage co on sale of the house. If we had been unsuccessful with mortgage rescue, we would have had to lose the house. All the arrears plus shortfall from the sale (house is in negative equity) would have been covered by our Bankruptcy and I have had this confirmed by my OR.

Thinking of you.

HTH Angie x

Thanks for that Angie,

Good luck for today xx

ani_26

DippyDog wrote: »

When I read this I was so pleased for you.

When we're striving to make ends meet or are caught up trying to work harder than ever to make some more money we can lose sight of what is really special in life.

Taking to time to appreciate the beauty which can be found around us can be so much more rewarding than just material things.

I know this sounds a bit twee and maybe even just a few short months ago I would have laughed out loud at these thoughts but I now realise by changing your focus on life it can get truly better.

My husband and I went for a walk in a country park which is a short drive from our home - the first time we've done that in 15 years - why? Because before we never had time. We had a lovely afternoon despite me initially not wanting to go.

So NH I sincerely hope that you will take more breaks from your packing and enjoy more wonderful days like yesterday.

Best wishes
DD

Thanks DD xx

I met someone else whilst walking yesterday, who had done exactly the same thing as me, except they had walked the ridge i'm hankering after. Lived in the same place as me for a similar length of time, and thought, i've always wanted to do this, its about time. I'm glad at least i'm not leaving here thinking, ' i wish ' ,because i AM going to have the memory. Maybe even in the snow!

I've just had a soak in the bath, but every muscle in my body is still aching. One quick post, and i must sort out all these little things that keep cropping up now, like, wheres my pay gone? Try and sort this room out today, as well.


Nohope xx