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Mortgage shortfall balance
Onwardsandupwards2022
Posts: 2 Newbie
Hi, I'm a long term lurker and found replies to all the queries I've previously had without needing to ask so I'm hoping one of you may be able to help 
I went bankrupt several years ago and had a property left to be repossessed by my trustee as part of my bankruptcy estate. When it was eventually sold at auction there was a shortfall in covering the mortgage and that has been showing as an outstanding balance on my credit reports ever since.
The mortgage provider have been completely uncooperative and I don't know where I stand with this debt and my bankruptcy. There's some advice on debt camel but I don't think it relates to a situation like this. Can anyone offer any advice please?
I went bankrupt several years ago and had a property left to be repossessed by my trustee as part of my bankruptcy estate. When it was eventually sold at auction there was a shortfall in covering the mortgage and that has been showing as an outstanding balance on my credit reports ever since.
The mortgage provider have been completely uncooperative and I don't know where I stand with this debt and my bankruptcy. There's some advice on debt camel but I don't think it relates to a situation like this. Can anyone offer any advice please?
0
Comments
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Any shortfall from the sale is covered in your BR.
From a loan pre BR3 -
A mortgage shortfall is known as a contingent debt.
This means that any mortgage shortfall after the property is repossessed is included in the original bankruptcy.
The balance should be shown as satisfied, or partially settled, or marked in some way to show the debt is no longer owed.
It should drop off your file after 6 years in total.
If they are being uncooperative, send a formal written complaint, and escalate to the ICO if they still won`t deal with it.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter2 -
Thank you both for your replies, much appreciated!0
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