SOA Secured Creditors

warren100

Hi all,

I am trying to complete my SOA.

I have a question regarding the Secured Creditors. I did have a mortgage and a secured loan on the house. I basically handed the keys back to the bank before the repossessed it. The house was sold at auction and i have an amount outstanding on the mortgage which will go with the BR. Does the loan that was once secured to the house count as secured now? Also were do i list the outstanding amount of the old mortgage?

Thanks all

fermi

As it is no longer subject to security over anything, then it just goes in the unsecured debts part of section 4. If you want to explain further, then use s13 at the end.

warren100

thanks fermi, one other thing it asks for dates incurred on the unsecured debts. Is this the date the debt was started? Basically, when i lost my house, i was advised to stop paying all debts as i was planning to file for BR not long after. So really the debts became an issue when i couldnt afford the pay them so would that be the date it asks for?

Thanks for your help.

debt_doctor

warren100 wrote: »

thanks fermi, one other thing it asks for dates incurred on the unsecured debts. Is this the date the debt was started? Basically, when i lost my house, i was advised to stop paying all debts as i was planning to file for BR not long after. So really the debts became an issue when i couldnt afford the pay them so would that be the date it asks for?

Thanks for your help.

Hi, the date incurred was when you signed on the dotted line, but I see the confusion. In all honesty it doesn't matter - no one is going to bat an eyelid which ever date you choose but it's worth noting that examiners look more closely at debts incurred (taken out, started) within the last 2 years.
DD

warren100

Thanks Debt Doctor.

One last thing, I have 2 old phone contracts that have round £90 on each outstanding and also a fee from Virgin Media for £180. This was from when i moved home and they couldnt supply my area and wanted this as an early disconnect fee. I refused to pay it. Can these small things be added the list of unsecured debts?

Thanks alot

fermi

Yes, they can.