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T O P I C R E V I E W
hfc
Posted - 16 May 2009 : 11:40:08 I have a overspent on my current account, the bank has managed to get a posession order on my property which is mortgaged and in negative equity,If I declare myself bankurpt how do I stand with this order.
2 L A T E S T R E P L I E S (Newest First)
radio
Posted - 17 May 2009 : 11:45:15
quote:Originally posted by John
Hi
I don't think a possession order is the correct terminology. I assume the bank have placed a charge against the property.
If this is the case then bankruptcy will not remove it.
John White England Jackman & Spacey
I am in a similar situation Now that the bank has a charge against the property. How does it stand with repossession. The have demanded a monthly payment which I cannot afford. I have laid my cards on the table and said to them "go ahead apply for repossession the principal lender has to be paid first so you will not get anything. Am I doing the right thing by calling their bluff?
John
Posted - 16 May 2009 : 15:10:29 Hi
I don't think a possession order is the correct terminology. I assume the bank have placed a charge against the property.
If this is the case then bankruptcy will not remove it.
