Almost taking the BR plunge........

shepherd06

we too are in same position, i know how it feels to be in limbo, not knowing where we are going to live..... we are waiting to hear from Shelter, have just sent signed forms back for them to be allowed to act on our behalf where needed...have either of you contacted Shelter? We are on a SPO and this months mortgage has'nt been paid, we can afford (just about) to pay this as of this week, but do we save it for BR? We are hoping Shelter can help out as far as council is concerned, i do have an eye on private rentals just in case though, but are worried about deposits etc...plus our dog! who the hell is going to want someone who has been repossessed, Br and a dog? Hopefully Shelter can help out, they should receive forms by tomorrow the latest (they sent 2nd class envelope) so will ring them then and let you know what they suggest. BTW CCCS has also broken down debts and that has left us with stupid monthly amount left over for 9 and half years (no emergency funds or anything) so this is not an option for us. £144,000 1st mortgage £28,000 on secured loans and £3,000 unsecured house is worth about £175,000

shepherd06

BTW maizy, i would also like to know how long before mortgage co' send out repo letter while on SPO.....i know it sounds weird but i want it to hurry up so i can take it to council or shelter! I wanted to stay in my home (thought MRS was going to happen but never did) but now i want to fastforward 6 months just for this not knowing to be over!!!
I do sympathise with you, i am tearful everyday and sometimes feel like driving into a wall....(my kids need me tho') so would'nt....but thats just how i feel

NeverAgain_2

... £144,000 1st mortgage £28,000 on secured loans and £3,000 unsecured house is worth about £175,000...

Shepherd,

Can you not sell the house, clear all the debts and walk away without having to go bankrupt?

shepherd06

we did have the house on the market, nobody would offer what its worth (or what estate agent values it for), there are a lot of houses in my small town, particulary in my road and surrounding roads and none are selling, we are out of time, we are in arrears up to our eyeballs, our house needs a bit of updating too....we could sell at a really cheap price but then we would still have shortfall.

Ineedaname

But would te shortfall be a manageable debt? Or maybe even end up below the £15k threshold for a DRO instead of BR?

Maizy

removed post

Maizy

removed post

debtinfo

If you only spend the minimum required on the absolutely necessary, then you shouldnt have any problems

Maizy

removed post

Maizy

removed post