reprosession and not bankrupt help

joeb12

Breifly my ex and i broke up 6 yrs ago we had a morgage with northern rock, I leftthe home and tried to get of the morgage but could not he refuses to sell the house and ended up getting repossessed with a 30 k loss,

He then went bankrupt and left me with the debt I have not heard anythink from northen rock for 4 years and they have my new address I'm stuck as what to do .

I have not checked a credit checker yet ,could they have wiped my debt ?should i go bankrupt I'm stuck please help.

Thank you

fermi

Unlikely they will have "wiped" the debt. More likely is that they have sold it on or somesuch.

BR may be an option if it is chased.

Would be another 6 years before it is time barred, so a bit of a difficult decision as to whether you want to raise the issue or not.

- Pro would be that if you did then you could sort it, via BR or perhaps a F%F or write off. Would mean that if worst came to worst then the BR would be off your file 6 years from now, rather than a lot longer if you were say forced to go down that rout in a few years time anyway.

- Con is that you might not ever get chased for it. Unlikely though, as a £30K is likely to surface in some form or another. Would be amazing if it didn't.

dancingfairy

Hmm can you get a loan from anybody family/friends?
Do you have any other means to settle (potentionally) a 30k debt? bear in mind though that it could have increased substantially if court costs, repossession costs, mortgage arrears, interest etc are all rolled into it.
Are you able to wait it out for 6 years?
df
Edit: have you got any assets to protect at all? Obviously I'd be extremely cautious about moving in with a new partner if they had significant equity in their house as if you stayed there for a few years and paid towards the mortgage etc then it 'could' be argued that some of the equity belonged to you. Any sign you have assets or potential assets 'could' potentially lead to your creditors coming out of the woodwork. If you don't have any assets and don't have to worry about your job then bankruptcy will be less of an issue for you.