Property repossession - non-payment markers mortgage

cymruchris

One more question for the learned community - following a bankruptcy - my property was repossessed and sold in order to raise funds to pay off the outstanding debts. (Understandable of course.)



I paid my mortgage diligently up to and including the month of repossesion - at which point I informed the mortgage company that the receiver had taken it - and passed the relevant details to them.



The official receiver then took around 6 months to sell the property.

I later found out that the mortgage provider then listed the non-payment months on my credit file - which over 6 months is quite a hit - and looks like I'm irresponsible - which I'm not. (Original bankrupcty was through a business failure rather than a party on my credit cards).

I wrote to the mortgage provider - and they stated 'well you didn't pay - so we have to mark it that way' - this feels a little unfair - what if the OR had taken a year to shift the property - would I be expected to keep paying a mortgage on a property I no longer had?


Has anyone experienced a similar situation - and if so - did you find a way of addressing it?

[Deleted User]

Well it is a true representation of what happened so....

What is the account marked as now?

luvchocolate

The B.R will stay on your credit file for 6 years anything else is minor by comparison .

cymruchris

!!! wrote: »

Well it is a true representation of what happened so....

What is the account marked as now?

The account is marked as Settled/Satisfied as full payment has been made.

cymruchris

luvchocolate wrote: »

The B.R will stay on your credit file for 6 years anything else is minor by comparison .

Yes - that's due to drop off in 2019.



I can't be the only one that this has happened to though - seems a little unfair (although what's fair these days!) that once the OR has the property - you then get a bad mark against you for each month they haven't sold the property....

System

cymruchris wrote: »

I can't be the only one that this has happened to though - seems a little unfair

Why? You walked away from a bucket load of debt you no longer have to pay which is far unfairer on the people you owed money to than getting 6 months of non-payment markers which will have little effect by the time the bankruptcy finally drops off your file.

[Deleted User]

It’s perfectly fair.

You still own the property and weren’t paying for it

Potbellypig

cymruchris wrote: »

Yes - that's due to drop off in 2019.

When is the 6 months of you not paying dropping off your credit file?