Bankruptcy query

t4n6o

Hi all, new to the forum and sorry if this has been posted before.

My query is relating to when i had to declare my self bankrupt back in 2011.

Before some financial difficulties back in 2011 I was a fullyt qualified electrician and pulling a faorly decent wage being able to cover mortgage, bills and pleasures e.t.c., then had to take a job at a reducued pay due to beibg let go as times were hard and not enough work to keep me employed, again still maintaining to pay the necessaties, 10 months later the company i worked for lost the contract to the council, however they said that all employees would be taken on as we knew the proceedings and how it all worked but we would have to be set on as agency workers. Again this was at a reduced pay.

When set on originally i was going through some mental health problems and with the wage reduction, it started causing some problems with being able to manage to pay all bills. I tried to make arangemets with my providers and some were willing to help by reducing price plans and altering what benefits we got from them ie. mobile reduced mothly costs and reduce monthly alowences, phone provider reduced monthly cost and tarrif e.t.c.

However when i contacted my mortgae provider they were not even willing to listen as at the time i hade a 6 month old baby to my wife , now ex wife, and with them saying that i MUST pay the full amount monthly, even though i offered what i thought to be a decent tempory solution of which i payed 3/4 of the mothly mortgage until we found ourselves in a better position and then start paying the full amount again as well as paying some more to cover the arrears.

Due to this and the way they were unreasonable and in some ways forcefull and demanding it caused my depression to take a severe downward spiral and ended up with myself almost takig my life and as a result of this I had to give up my job and live in benefits as wel as trying to sort out my life with several medical teams. Once again phone mortgae company to sort out an arrangement and the same again, no help and the demands of you MUST pay full amount. This then led to mortgage payments not being made due to the fact that of trying to make sure that my daughter was provided for with the necessaties - nappies, food, heating e.t.c. This then tipped me over the edge completely and nearly had to be committed for serious help.

In the end we sought financial advice and they said to stop paying mortgage payments and delcare ourselves bankrupt and to get the debt written off, this we did in 2011.

Now that I am officially declared off the BR (the 1 year list, now on the long list for 6 years), i am trying to rebuild my life however it is not easy due to still having mental health issues - however, not as severe as they were, I was wondering if there was anything i could do as far as any sort of compensation, not necessersly money compensation, due to the fact of how i was treated and how they made my condition worse?



Many thanks in avance

Action_Jackson

Sorry to hear about your awful experience.

I understand depression and other mental illness can be debilitating, but creditors are allowed to enforce their legal rights. It doesn't matter if you are suffering from depression, cancer, or any other awful illness, this doesn't preclude creditors from playing hard ball. Anyone who's had to deal with debt collection agencies knows how their behaviour blurs the lines of what's acceptable behaviour.

I'm no legal expert, but I think you'd have virtually no chance of any kind of compensation. Ultimately, you exercised your right to declare yourself bankrupt, gain protection from creditors and leave your debt behind. I think the time, stress and effort required to pursue your old creditors would be counter-productive.

Speaking as a mate down the pub, rather than looking back, why look forward to rebuilding your life now free of debt and doing something more beneficial to your own mental health? Forget about the old creditors and focus on gradually rebuilding your career perhaps?

Good luck with whatever you decide.

alastairq

Hi..& welcome.

I do not think your claim for compensation from your mortgagor will succeed.

If it were to succeed, there is a possibility your OR would claim the full amount for the BR estate anyway. [This is what happens to PPI claims from accounts commenced prior to BR].

As said above, what you experienced is no different to what others have had to deal with.

I am puzzled as to why you thought BR would 'deal' with the mortgage debt?

I ask, because BR deals solely with unsecured debts..whilst a mortgage is a secured debt.

I take it you have had the property re-possessed? [in which case, any shortfall of equity would fall into the BR..as it is now unsecured].

MAybe time to move forwards altogether?

t4n6o

firstly thanks for the reply's

and yes the house was repossessed, like i said im not in it for the money, although it would be nice, it was mainly to see if there was anything i could do as they was making my condition worse. which is why we went bankrupt and everything was written off.