Repossessed house now sold - what now

molly1412

Hi everyone,

Our repossessed house has now sold but we've not heard anything from the or, does this just get dealt with before discharge (no equity) or will we need to do anything.

I have Ben mostly calm for the last few months but now discharge is looming (4weeks today) I am getting anxious again wondering what can happen.

We have not had any contact from or and no iPa yet but I understand this could be set up at any time is this correct?

Also does everyone get automatic discharge or why would they delay it, we've not done anything untoward I just like to think the worst then anything better is a bonus (by product of the br process I think)

Thanks again
Molly x

fermi

Have you had anything official through to say the house has been sold? If so, then yes I would pass to the OR.

If the subject of an IPA hasn't been broached by now, I would suspect it won't be now. An IPA must be agreed/signed before discharge, so not much time left anyway.

Yes, AD is automatic unless you have failed to cooperate with the OR. In which case an application to the court must be made by the OR. They can't just stop AD on a whim. You would be notified. I can't for one second imagine your AD being stopped. Put that out of your mind.

molly1412

Hi fermi

Thank you for the quick reply.

I've not had anything through I just saw on rightmove it was sold.

How long do they have to set up iPa I thought you could get at any point up until discharge. We really are borderline as to whether we would get one so keep thinking worse case.

Do you have to do anything before discharge?

You said if they did want to delay discharge they would have to inform you - when?

I know I'm having moment of panicking but we have come so far I just keep thinking something got to go wrong now

Thanks again for all your help

clc_girly

Hi...when our house was sold we were only informed once the sale had been completed. I believe at this point the soliciter dealing with the repossession also informed the OR. We didnt need to do anything and didnt hear anything else.

nuttyp

Just remember that if your mortgage mender gets in touch with you, dont sign anything. They can be sneeky sometimes. If you get any correspndance, send it straight to the OR by recordable delivery.