Bankruptcy and secured loan

Discombobulated

Went BR in 2008 with a mortgage and secured loan, OR never required me to sell house or get repossessed. So I kept house and am still paying mortgage. I had a secured loan on the house before going BR for 44k which I haven't paid since. The secured loan have not contacted me since BR but it shows on my credit references as defaulted on date of BR.

What happens next year (6 years from BR) will the secured loan be wiped off my credit report? What happens if I sell my property in a few years, will it show on land registry records?

debt_doctor

Hi,

How unusual.
Is it that your property is in heavy negative equity?
I am not a credit file expert but I believe all records should be removed 6 years after default.
Land based debts become statute barred after 12 years, a long time to go I appreciate.

DD

Discombobulated

Hi DD,

My house has equity now, at the time of BR had little equity after secured loan.

It's very unusual, I've spoken to a few debt agencies but nobody can give an answer.