I guess this is it?

heregoesnothing

Hello, have been browsing this forum, but not posted till now.

I had my house repo'd last year after the break up of a relationship and birth of our 3rd child. I had a buyer for the house lined up but couldn't exchange in enough time to suit the Abbey.

Anyway, have just received a letter from Abbey solicitors advising of the sale now completing (12 months later, and for £13,000 less than I had arranged!!). With their fees, the cumulative mortgage interest payments, and anything else they could add.... I am no £36,000 in debt to them. Add to this, a £15,000 2nd charge to SPML taken out to repay ex's debts. (I know, never again)

Anyway, I have 3 young children, and have just started at University training to be a student nurse, so although in receipt of a Bursary, I have no chance whatsoever of ever being able to repay these debts. (plus about £9,000 unsecured from the time of the break up).

I am a proud person, and it breaks my heart that I have lost my children their home, but I am lucky in that I am in rented accom found by the council, and expect to be top of the list for permanent council property in next 3 months, so I have got to grips with that part of things, but, I am dreading going bankrupt and having my name and address listed in the paper.

Can I ask, if I go bankrupt now, and say move in 3 months time, will the paper declaration be printed before I have moved to new address. This is really important to me, as I want this to be new home, new start, and I don't want my new address listed in the paper as well as the old one.

My bank have agreed I can keep the account with them open as long as the OR is happy with it. (just a basic account, but all my direct debits, bursary, child benefit etc are controlled from it), so I don't have to sort that part out, but, is the next 6 years going to be full of constant reminders that I am bankrupt, or does it literally all fade away from the moment you become discharged?

Sorry to waffle on, but this is inevitable for me now, just need to swallow my pride and book the court date., but want to be as prepared as I can.

Thanks everybody.

Merry_Gentry

Hiya

I believe the declaration is in the paper in a matter of weeks, sometimes less, so it should go in before you move house.

With regard to your bank, you might want to double check that because apparently the decision is made by the Head Office rather than the branch, and many banks are not very BR friendly. The Co-op Cashminder account is fine, and other people have been using a basic Barclays account, but other banks/building societies have been found to close the accounts regardless of what they have agreed beforehand.

It sounds like you have had a bit of a bum deal, but you are moving in the right direction and your new start will be a clean slate. Have you sought advice from one of the free debt advisory services like CCCS??

And welcome to the board! :hello:

Dez-Titute

Forget about what goes in the local rag its not important & as they say tommorows chip paper.Looking forward try and make a difference to things you can change rather than things you have no control over, ie open the Co-op Cashminder account.

Contact one or all of the following National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | local Citizens Advice Bureau.
Have you done your Statement of Affairs (income & expenditure) yet, without payments to debts? If you put this up on here then the someone here will be able give further guidance.

dalip

Morn and welcome
First make that call to the debline. Then ring your local court and find out if they operate a drop in or appointment system for bc(may be able to book it then as well)also check with them how many copies of your SOA they need as this can vary from 1 court to another. When you've done that come back and we will guide you though the next few steps. Good luck you headig in the right direction.D

debtissoeasytogetinto

Hi and welcome to the forum; you will find advice and support here from all these lovely people that are on this forum; some of us are going through it, some have gone and some looking; firstly please; you have said "I am a proud person, and it breaks my heart that I have lost my children their home, but I am lucky in that I am in rented accom found by the council, and expect to be top of the list for permanent council property in next 3 months, so I have got to grips with that part of things, but, I am dreading going bankrupt and having my name and address listed in the paper." Who reads it! couldn't even find mine in my local rag and i was actively looking... plus if you are moving, then try and go br before, that way you new address will not be included - i had to put my last five addresses as i have moved a lot, which made me wish that i had gone br before i moved again! ring one of the free helplines - they are extremely helpful plus if you do go br and are in court, the judge will ask if you sought advice and where from if you haven't then they will send you away to do so. Looks like you've got a good council congrats on getting another property.


Any questions you need to ask to ask, myself, may not be able to answer, but we do have experts on this site from both sides of the fence as it were and will be able to offer advice.

Good luck and don't worry i know that's easy to type, but remember you are taking control. hold your head up high.

philnicandamy

heregoesnothing wrote: »

Hello, have been browsing this forum, but not posted till now.

I had my house repo'd last year after the break up of a relationship and birth of our 3rd child. I had a buyer for the house lined up but couldn't exchange in enough time to suit the Abbey.

Anyway, have just received a letter from Abbey solicitors advising of the sale now completing (12 months later, and for £13,000 less than I had arranged!!). With their fees, the cumulative mortgage interest payments, and anything else they could add.... I am no £36,000 in debt to them. Add to this, a £15,000 2nd charge to SPML taken out to repay ex's debts. (I know, never again)

Anyway, I have 3 young children, and have just started at University training to be a student nurse, so although in receipt of a Bursary, I have no chance whatsoever of ever being able to repay these debts. (plus about £9,000 unsecured from the time of the break up).

I am a proud person, and it breaks my heart that I have lost my children their home, but I am lucky in that I am in rented accom found by the council, and expect to be top of the list for permanent council property in next 3 months, so I have got to grips with that part of things, but, I am dreading going bankrupt and having my name and address listed in the paper.

Can I ask, if I go bankrupt now, and say move in 3 months time, will the paper declaration be printed before I have moved to new address. This is really important to me, as I want this to be new home, new start, and I don't want my new address listed in the paper as well as the old one. The details are usually inserted into the papers about a week or so after your BR hearing, it does however go from your address that you filed on your paperwork...once you move house you'll still have to inform the OR office

My bank have agreed I can keep the account with them open as long as the OR is happy with it. (just a basic account, but all my direct debits, bursary, child benefit etc are controlled from it), so I don't have to sort that part out, but, is the next 6 years going to be full of constant reminders that I am bankrupt, or does it literally all fade away from the moment you become discharged? The only debts not wiped out are some court fines & student loans, all your debt will be wiped away from the day of BR, it will however stay on your credit files for 6yrs making any application for credit very difficult to obtain in the future

Sorry to waffle on, but this is inevitable for me now, just need to swallow my pride and book the court date., but want to be as prepared as I can. I would have a look here http://forums.moneysavingexpert.com/showthread.html?t=474254 some banks have said the same in the past to members that it's ok to keep the account as long as the OR says so BUT not always the case most cases the accounts are closed by the banks head offices (staff really dont have a clue) so might be worth opening another basic account just in case your account is closed....

Thanks everybody.

Hope that helps

SuziQ

I really feel fr you-I have heard this type of story about mortgage lenders several times over the last few weeks and it is scary. I am with Abbey and struggling at the moment-they haven't been exactly flexible,refusing me to go on interest only for a while etc-I think they are very twitchy and just trying to cover as much debt as they can even though it is leaving people in debt. I am fortunate to have more equity than mortgage but still,don't want to lose the house I have lived in for over 20 years.
Good luck with your decision,and try not to beat yourself up. We all make mistakes,you are doing your best to secure your children's future with training and your action. There are several bankrupcy diaries on here that are so uplifting because they show the light at the end of the tunnel.I found this one particularly helpful

http://forums.moneysavingexpert.com/showthread.html?t=596237

Waspeze

Can't really add to what's already been said but just wanted to welcome you to the boards

AllNancy

Hi Welcome to the board. You are in good company and people will help you as much as possible.

First port of call a debt help line, the judge will ask you if you have received advice. We don't count!!! It has been known for a BR to be refused if you haven't.

It's a bit of a rollercoaster but you'll get there.

Best wishes

Nancy

josmidge

Hi

Welcome to the boards!!!

No body reads the bankrupts bit in the paper except for my ex's mother lol that was fun meating up with her in town lol

Best is i never found it myself and i was looking for it!!!

And it is as they say "yesturdays news"

Jo