Post bankruptcy Question

trickyrick

Hi,

I went bankrupt in 2010, and ended up having to voluntarily hand back the house in 2012 (due to a divorce and my ex just upping sticks and moving out leaving me with two homes, in different parts of the country).

The house was included in the bankruptcy, and was sold for less than the outstanding mortgage, leaving a shortfall.

On my credit record this shows as becoming a default 7 months after the sale/auction, and the amount outstanding is currently increasing each month.

Is there any way I can get this marked as partially satisfied with a zero balance. It was a joint mortgage if it makes a difference ?

Thanks.

fermi

You can complain and demand correction. See these links.

5 Year Battle Won against Mortgage Lender

Ombudsman decision - mortgage payment liability and credit file

and

http://debtcamel.co.uk/credit-file-after-bankruptcy/

trickyrick

Looking at the ICO guidelines (linked to via the third link) it would seem there are different rules for joint debt's

'Similarly, where there is joint and several liability, and
one party becomes bankrupt, then the account should not automatically be marked in default, because the other party will be responsible for it and may maintain payments.'

this doesn't seem very good

fermi

Payments were not maintained though, and keys were handed back for voluntary repossession and sale, which means a default is the correct thing to record on both person's file.

In your case it is not the fact of the default that is in issue, but the date and status of it.

It should be:

- marked as satisfied on your file and that should be the end of the reporting on it for you.

- Default should be backdated to the date of your bankruptcy.