Bankruptcy advice again please

Johnpj

fermi wrote: »

If the house is repossessed following it, it will certainly be recorded on your credit reports.

Hopefully if the couple get the timing right, they will obtain their tennancy, go BR and then have the house repo or sold by the OR, so it should not prevent them getting their rented accommodation.

In this situation, timing is everything, and the couple must act switly to avoid being caught in a worse trap than just debt.

Johnpj

But that will not be showing yet, as they have the repo order suspended, or as its known a stay of execution. THey only have the threat if they faild to keep to the terms of the stay order at the moment, the mortgage company have not take posession.

fermi

Sorry. I've just been digging in files to see whether a suspended repo order will show up or not, as well as trying to reply on here.

Doesn't appear to from the copy of someones report I have where I know they had one.

However, it will show up one the repo happens if they are going ahead with that.

Maizy

removed post

fermi

Maizy wrote: »

Yes I realise after repo that it will be on my file but just wondering if the suspended repo order shows as a ccj type thing as that is what they seem to be interested in and of course BR but I dont think it would after whats been said.

I see what you are getting at.

No. For those purposes as far as I know it won't usually effect you like a CCJ might, even when any repo is made final. And definitely not before.

Johnpj

fermi wrote: »

Sorry. I've just been digging in files to see whether a suspended repo order will show up or not, as well as trying to reply on here.

Doesn't appear to from the copy of someones report I have where I know they had one.

However, it will show up one the repo happens if they are going ahead with that.

Polite poke :beer:
I did say above that a REPO order will not show, when it is in a stay of execution, by the way I wrote it I was 100% certain.

Also, and I am pretty certain about this, but not 100%, when a REPO order finally gets executed by the bailiff it is shown as part of the CML - Council of Mortgage Lenders. BUT - it is loaded by the mortgage company not the court. So technically the REPO order from the court is never shown. The credit file also used to show if the REPO was voluntary, as in the keys were handed back. As a result only mortage companies who are also part of the CML can see it. This USED to the case, and I do not believe it has changed, but I might be wrong on this final bit.

Seriously - my "poke" is polite.

WIth either an eviction order or a repo order, a court can, if requested make an additional money order, which means the other party is claiming specific back rent etc etc. In this case the money order will appear on your file as a CCJ, and if it was a REPO order then that will appear as wel. But see notes above re the CML.

Again, neither will appear if they are are given a stay of execution. Further, even when they are passed to the bailiff, you can apply to have them suspended, right up until the actual REPO or eviction takes place.

Johnpj

Maizy - thank you for taking my suggestion NOT to lie in the way it was meant. I just know people in our situation are tempted to, and the consequences can be severe. Trust me a CIFAS warning for attempted fraud is a nightmare.

Just to let you know I too was in your situation, I fought a repo order for over 5 years, with endless orders for a stay of execution. I was in the court so often, they asked me pay rent at one point! I also defended myself, and never used a solicitor.

Good luck

fermi

No offence, but I prefer to check things out myself to be certain.

This is interesting though. http://www.equifax.com/help/q36/en_uk

http://www.cml.org.uk/cml/policy/issues/47

Although that is possessions info and not court info.

Johnpj

Interesting, and thats why I pointed out that it used to be the case.

I was so deep in all this stuff once, I even took legal training via some courses.

I felt like a damn solicitor at one point, and trust me if you knew me personally a solicitor is the last person you ever dream I might be!!!

fermi

Going to have to get on to Experian, as they still have the incorrect info on their website docs in places.

(Although is has vanished quietly from their faq)

One of the main ones, I notice now from the document date, hasn't been update since August 2009. :eek: