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T O P I C R E V I E W
pix1
Posted - 10 February 2009 : 18:38:25 has anyone experienced a mortgage shortfall situation following a repossession having gone bankrupt and been discharged?
do you have to wait until the property is sold before the mortgage company updates the credit file that you are discharged from bankruptcy?
do they sometimes try to avoid updating so as to be awkward?
is it updated as satisifed from the date of the repossession?
3 L A T E S T R E P L I E S (Newest First)
jurgenpie
Posted - 10 February 2009 : 19:20:11 I started off with a debt management plan for 3 years which at the time I thought was the responsible thing to do, but was then talked into a IVA which in my case was not the correct thing to do and I struggled with that for 2 years and bankruptcy would have been the better and more realistic option.
pix1
Posted - 10 February 2009 : 19:15:47 Thanks for your reply Jurgen. I think we will be ok but I really want to see the property sold and the credit file say 'satisfied' as soon as possible.
I looked at your profile and, sadly, it sounds like somone told you you were getting an IVA but actually gort a Debt Management Plan. Is that right?
Good luck with your upcoming discharge and paying off the ipa.
jurgenpie
Posted - 10 February 2009 : 19:05:11 I gave up my house by voluntary surrendering the keys to Northern Rock, on the letter they sent they wanted me to sign that I would be responsible for shortfall, when speaking to the OR in my case this was not true as the house was included in the bankruptcy, so I deleted the clause, the house is still for sale and I moved out on 5th March into rented accommodation and then a council flat. The experts here would probably confirm that I think.
