Repossession after bankruptcy and credit file

lostagain_2

A bit of background first.

Bankrupt in 2007 bought beneficial interest in house, made redundant and health problems was on an arrangement with NRAM which as now finished but we are 6 months in arrears and repossession process has started just waiting for letter before action.

We've had a letter from NRAM confirming we will not be liable for any costs/shortfall (property in negative equity) and we are trying to sell before repossession.

However what will all this mean to our credit file, as I understand it all debts prior to bankruptcy fall off at 6 years. So does this mean our mortgage (soon to be repossession) will have to fall off too and if so would we need to send the clean up letter to NRAM.

Sorry if this is confusing
thanks

lostagain_2

Anyone have any idea?

lostagain_2

Well we were repossed last month and have moved into rented feel that at last we can breath thought there have been a number of teary moments and a bit of self pity but onwards we are ready to face the future.

NRAM have agreed that they will not chase us for any shortfall but we are still unsure what this means to our credit file and how things should look. Should NRAM now show the default date as no later than our bankruptcy date as per the guidelines?? Could anyone advise or does anyone know where we should ask?
Thanks

unsure100

After looking at my credit files from Noddle, my property was repossessed in March and the day it was sold at auction by Northern Rock later in the it showed as satisfied on my credit report. They must have so many of these to deal with that they know once you are bankrupt they just get it sold. There may be a clause from the buyers solicitor or something saying the mortgage must be relinquished before competition if that makes sense?

Northern Rock hate voluntary repossession unless you sign a deed of acknowledgement so in my opinion you are better of letting it go through the courts and spending the money on more useful things like food