re-credit check

joe134

JCS1 wrote: »

Bankruptcy covers all unsecured debts, so does not cover mortgage or secured loans.

If, however, the property is then returned to the mortgage company at a later date, once the property is sold any shortfall becomes unsecured and would be included in BR (just don't sign any deed of acknowledgment!)

Hi JCS1 Thanks. I was hoping to keep her in the house for the present, but deep down I know it,s never going to be payed off, and if It,s changed to a repayment mortgage, she couldn,t afford to pay the increase..He stopped the endowment policy/building and contents insurance, ( hope nothing big happens, will have to reinstate buildings at least;
one of her creditors is about to attatch a charge on the house, within a few days, it,s going for interim court 14/2,( valentine day massacre eh;;;) there,s a letter attached to reply to object and reason why.
Should she object? or let them just apply the charge;
What,s a deed of acknowledgement?

joe134

sniggings wrote: »

callcredit is the baby one of the 3,the other two are the 2 main ones that are used,not sure but I would think a phone to the court will either tell you from the case number or they will point you in the right direction,thing is these debts can get passed to different people all the time and with that the amounts increase like crazy and once they hear you are going BR again they seem to stick a few more 000 on the end so don't be too worried keeping tack,the main thing is if you have a list of the main creditors where the loan started out from and a best guess what the balance is then that should be good enough,it was for me and the OR took it from there.

Thanks sniggings.1 is for £1200+ for a current A/c with no overdraft facilities. How you can run up debts on that, I don,t know;;? I will do an experian one by post, as they send a key to you by post anyway, to view online.wierd.might as well be 100% certain nothing else is lurking out there for £2.:beer:ps;;cccs are phoning her here tomorrow at 0900hrs for a long 1 to 1 chat about her situation;

joe134

joe134 wrote: »

Hi JCS1 Thanks. I was hoping to keep her in the house for the present, but deep down I know it,s never going to be payed off, and if It,s changed to a repayment mortgage, she couldn,t afford to pay the increase..He stopped the endowment policy/building and contents insurance, ( hope nothing big happens, will have to reinstate buildings at least;
one of her creditors is about to attatch a charge on the house, within a few days, it,s going for interim court 14/2,( valentine day massacre eh;;;) there,s a letter attached to reply to object and reason why.
Should she object? or let them just apply the charge;
What,s a deed of acknowledgement?

update;;referring to the restriction on the land registry, it,s no point objecting, because, there,s already another on from 2009.

tigerfeet2006

joe134 wrote: »

Hi JCS1 Thanks. I was hoping to keep her in the house for the present, but deep down I know it,s never going to be payed off, and if It,s changed to a repayment mortgage, she couldn,t afford to pay the increase..He stopped the endowment policy/building and contents insurance, ( hope nothing big happens, will have to reinstate buildings at least;
one of her creditors is about to attatch a charge on the house, within a few days, it,s going for interim court 14/2,( valentine day massacre eh;;;) there,s a letter attached to reply to object and reason why.
Should she object? or let them just apply the charge;
What,s a deed of acknowledgement?[/QUOTE]

When they go for reposession they like to try to get you to sign a nice little letter that says you are responsible for all debts. Which means if it is signed after her BR then it creates a new debt and will not fall into the BR and she will be responsible for it. You just have to refuse to sign anything and let them take it to court for repo. But when/if all that happens post on here and someone will walk you through it.

You are doing a brilliant job there. Hope she appreciates all you are doing for her.

All the best with the call tomorrow, let us know how it goes.

joe134

tigerfeet2006 wrote: »

joe134 wrote: »

Hi JCS1 Thanks. I was hoping to keep her in the house for the present, but deep down I know it,s never going to be payed off, and if It,s changed to a repayment mortgage, she couldn,t afford to pay the increase..He stopped the endowment policy/building and contents insurance, ( hope nothing big happens, will have to reinstate buildings at least;
one of her creditors is about to attatch a charge on the house, within a few days, it,s going for interim court 14/2,( valentine day massacre eh;;;) there,s a letter attached to reply to object and reason why.
Should she object? or let them just apply the charge;
What,s a deed of acknowledgement?[/QUOTE]

When they go for reposession they like to try to get you to sign a nice little letter that says you are responsible for all debts. Which means if it is signed after her BR then it creates a new debt and will not fall into the BR and she will be responsible for it. You just have to refuse to sign anything and let them take it to court for repo. But when/if all that happens post on here and someone will walk you through it.

You are doing a brilliant job there. Hope she appreciates all you are doing for her.

All the best with the call tomorrow, let us know how it goes.

ThanksT, very good of you. Decided to let her use wifes car, named driver,until her affairs are better. We will get there, thanks to you guys:A

tigerfeet2006

joe134 wrote: »

tigerfeet2006 wrote: »

ThanksT, very good of you. Decided to let her use wifes car, named driver,until her affairs are better. We will get there, thanks to you guys:A

That sounds like a good idea re: the car. We can't promise to know all the answers but we will do our darnest to help and support you both through this.

joe134

tigerfeet2006 wrote: »

joe134 wrote: »

That sounds like a good idea re: the car. We can't promise to know all the answers but we will do our darnest to help and support you both through this.

Thankyou tigerfeet, much appreciated; That alone makes ME feel better.I will post result of phone call tomorrow.

joe134

joe134 wrote: »

tigerfeet2006 wrote: »

Thankyou tigerfeet, much appreciated; That alone makes ME feel better.I will post result of phone call tomorrow.

Hi Guys UPDATE;;;
CCCS rang daughter this morning and went through the expenditure and earnings etc;
Very nice chap;
He is ringing again next Wed as he needs details of all outstanding debts.
We told him what equifax/callcredit showed, but some are showing zero, but that doesn,t mean they are settled, just that they may have been passed on to recovery agents.
Rang all recovery agents that we could locate on Equifax, and asked for written details of outstanding debts, who they are from, the full amount and settlement figures.
CCCs say she owes £24k, but there probably is more, until letters come, I cannot be certain.
The income/expenditure is showing £50 left, that,s her using wifes car.She has to take out buildings insurance and petrol, so she,s in negative territory.
CCJ is priority, as bailiffs could be sent in. for £2.5k, owing, no less..
CCCS have not worked out a payplan, until I/we have letters of debts,which are on there way;
She and her partner are going to Spain in a couple of weeks time(maybe),to try and hand the mortgaged house back, and try and sell the paid for one.
If the bank don,t demand a shortfall,which I doubt, and she can get something from the paid for one, I,m wondering whether to clear her debts and get it back from the money from her share of paid for house????
Other than that, she goes with paying cccs, and all the house payments here, if she can afford to;
As she,s in negative equity on the house, and deficit each week now, before cccs payments,it,s not likely;£24k ain,t going to be less than £100pcm to cccs?
I want to keep her in that house as long as possible, till he,s out of her life, at least, and we can see a clearer plan;
That,s about it, any advice would be gratefully accepted.:beer:

sniggings

hard one really as there are so many variables,looks as if she as a lot of options.

debt management plan (can be hard to keep up the payments)
BR (new start clear of debts but can be shameful for some and hard to get furture credit)
you paying debts (very kind but will this situation come up again)
your daughter selling the house and then paying the debts (may not be an option in the short term,but guess if this was a real option you would have taken it)

all have pros and cons.also depends how much you wish to help, now or after BR or both,if only before BR OR after then that again opens up more considerations.

the way I see it now is it's down to personal preference,if this was me knowing what I know now,I would take the option for BR and accepting your offer of help post BR but if you asked me the same qoestion before my BR you problably would have got a different answer?

tigerfeet2006

For what it is worth, I would say do not bail her out. She hasn't learn't from it in the past and she won't learn from it now if you do pay her debts.

Tough love is the order of the day in my humble opinion. But then you know that anyway.

If she has equity in one house and not the other and they are with the same mortgage provider then there is a very good chance that they will off set one against the other.