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BK and repossession
iamnotapanda
Posts: 23 Forumite
Hi Everyone
I hope you can help. I went BR last year, because of the spiralling bills from a shared ownership property - namely the service charge was out of control.
I was advised not to sign any of the voluntary repossession forms or repossession forms by CCSS - they stressed DO NOT.
The bank are saying without the forms they can't repossess... can anyone offer any advice? Do I have to wait until the arrears get greater or should I be signing something to get the ball rolling?
Any help on this matter would be appreciated.
I hope you can help. I went BR last year, because of the spiralling bills from a shared ownership property - namely the service charge was out of control.
I was advised not to sign any of the voluntary repossession forms or repossession forms by CCSS - they stressed DO NOT.
The bank are saying without the forms they can't repossess... can anyone offer any advice? Do I have to wait until the arrears get greater or should I be signing something to get the ball rolling?
Any help on this matter would be appreciated.
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Comments
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The general rule is dont sign anything, they should accept the VR but from reading on here some seem not to want to, assume there is negative equity? if there is, this along with arrears and all their charges will fall under the your BR as a provable debt, the bummer is that until they formally take possesion you are responsible for the Council Tax and buildings insurance, if you don't mind me asking which Bank?every time I manage to get one more breath into this body, I will sing a song of thanks to you my brothers, my sisters, my friends, may your sleep be peaceful, and angels sing sweetly in your ears.0
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Yes they can reposess they are just blowing hot wind to get you to sign. Just don't do anything and let them bluster and take it to court. When you get the court letter either show up and tell the judge you have no objection to repo or write a letter with all the case details saying you have no objection. It will just cost them more to do it this way, which will go into the BR anyway.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
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Thank you so much for the advice. The mortgage company is woolwich.0
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The reason why you must not sign is that they are trying to con you into agreeing to pay for the shortfall and stop it being included in your bankruptcy.
Sign nothing and the shortfall automatically goes into your bankruptcy.
Sign and you will either have to pay the shortfall or go bankrupt again.0 -
iamnotapanda wrote: »The bank are saying without the forms they can't repossess...
Taking that to its logical conclusion implies you can continue to live there for ever without paying. Sound too good to be true, but then again...0 -
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you accept no argument to repo or address a letter with all the case data adage you accept no objection. It will just amount them added to do it this way, which will go into the BR anyway0
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