New offer from mortgage lender

bigjl

silvercar wrote: »

I take it you didn't ask the question on receiving a fee for agreeing a repossession?

Would it not be safer to allow the OR to give you back the BI and then accept the fee?

Remember that, if you definitely intend allowing the repo to go ahead, you may as well stop paying the mortgage as the non payment will just be part of the arrears that are already building up and will be part of the bankruptcy. (Though make sure you have that fee banked )

I honestly think they thought i was trying to get another three months free accomodation as some do when facing repossession, i think they were a bit surprised when i actually stood by my agreement that was made with the Judge.

I must admit that the beauty of the forum is that things have been pointed out that would never have occured to me.

I think a purchase of the BI would be advisable, so the entire thing has an air of "belt and braces ".

I wanted to keep the house an was struggling to do this.

But you have to wonder when is the time to call it a day.

Thanks for all the advice.

I hope others have learned as much from this thread as I have.

silvercar

The irony is that the £10k fee could enable you to choose to clear your bankruptcy; but that you could use your bankruptcy to swallow the negative equity.

Ineedaname

I've really enjoyed this thread and learnt a great deal from it, so thank you Bigjl for asking the question.

You'll make the right decision for you and I do hope your life and health improves over time.

silvercar

I'm very aware that this is a brain stretching exercise for all of us apart from bigjl. Decisions for you are big and important so it is very important to remember that we are just pontificating on an internet page.

Good luck and take all the advice you can.