losing house and after...HELP

silvercar

edsjad wrote: »

thanks for your straight talking debtinfo and thank you silvercar. Finding this incredibly difficult. Will do my best to call. I will keep in touch. Please could you also tell me what happens after losing house?

You need to be strong and be in control. You don't wait for them to take your house away and then ask where to go. If you are going to lose your house (and its a building - home is where you make it), then you need to take action.

So it seems that at some point, possibly sooner rather than later, you will be losing your house. So start looking now for alternative accommodation. Then you can tie in moving with the solutions that are being offered regarding possession.

silvercar

When you phone, I would suggest you tell whoever takes the call that you have been suffering from some mental illness but are now feeling stronger and want to comply with the ORs request. If there isn't anyone to speak to when you phone ask them to log that you called and take a note of the name of the person you spoke to and the time of call.

edsjad

silvercar wrote: »

When you phone, I would suggest you tell whoever takes the call that you have been suffering from some mental illness but are now feeling stronger and want to comply with the ORs request. If there isn't anyone to speak to when you phone ask them to log that you called and take a note of the name of the person you spoke to and the time of call.

thanks silvercar - trying to stay sain - appreciate your support. thank you so much.

edsjad

Hey there - thank you so much for your support. I finally plucked up courage to phone today!!! It's only taken me a year!! Feels like huge weight has lifted and you were right - lovely (office manager) woman on the phone said it wasn't too late. She said fill in the initial booklet thing; I think she said don't post it. Bit lost what to do with it. Anyway said i would phone on wednesday when OR is in. Office manager said she might want an interview or talk on phone.
Don't suppose there's any chance of saving my house as not in neg equity but debts and their costs very high. I know this is a long shot, but does OR ever call in a insolvency specialist is they think they might get more back for creditors by doing an IVA?
What's negotiable at interview? Anything?
Thank you so much for encouraging me to phone. What a relief!!!

silvercar

:T:T:T

Well done!

That is the difficult thing out of the way.

A weight off your mind.

tigerfeet2006

Fantastic :T Well done on having the courage to do that.

If you need help with the forms and SoA then pop your questions up on the board and some one should be able to help.

How are you preparing to move out? Are you going into private rental? Or are you going to present to the council as homeless?

edsjad

tigerfeet2006 wrote: »

Fantastic :T Well done on having the courage to do that.

If you need help with the forms and SoA then pop your questions up on the board and some one should be able to help.

How are you preparing to move out? Are you going into private rental? Or are you going to present to the council as homeless?

Thank you silver and tiger for congrats. How long will OR give me do you think as I am co-operating now before I have to move out? I'm on my own and have dog so I'll be lucky to get one bed flat. ALso worried about storage - have a lot of stuff and no car and wrong time of year for car boots. ANyone any ideas? (APart from the bin that is) Cheers. and thanks again.

edsjad

Just wanted to ask this again:
Don't suppose there's any chance of saving my house as not in neg equity but debts and their costs very high. I know this is a long shot, but does OR ever call in a insolvency specialist is they think they might get more back for creditors by doing an IVA?
What's negotiable at interview? Anything?

silvercar

I would think that an IVA is out of the question as you are already bankrupt.


As for saving the house, its a question of being able to afford the mortgage once your other debts are included in your bankruptcy and having a strategy for buying the equity (technically the benaficial interest now) back off the OR. That wouldn't need to happen for 2-3 years, but if there is no way you will be in a position to do it then, I don't see the benefit of holding out.

debtinfo

With the amount of equity in this case it is unlikely that they would wait 2 years 3 months, they normally do that in small or no equity cases. They will usually (and the court will at least) give you a period of time to make an orderly move to a new address.

As regards doing an IVA, It is possible to get an annulment (the bankruptcy cancelled) on the proviso of entering into an IVA, but it is not the OR's job to pursue this, if you want to do it you have to apply to the court yourself, It would need the agreement of all creditors and for them to go for it, it would need to provide a better return to creditors than the current situation which in your case is unlikely, If you want to look at this further then you would need to speak to an Insolvency Practitioner to look at the feasability of doing so