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T O P I C R E V I E W
WT71
Posted - 08 July 2009 : 22:17:13 HELP Please regarding voluntary repossession. Can an expert tell me whether I tell my mortage company I am going bankrupt and want to give back the keys before I declare BR or after I declare BR? The house is in negative equity and I have already moved into rented accomodation prior to my hearing which is later this month. Any help would be great.
2 L A T E S T R E P L I E S (Newest First)
Melanie.n
Posted - 09 July 2009 : 07:56:53 It has no relevance as to when you hand the keys back ensure though you do this by recorded delivery, for proof. What ever you do though do not sign anything. Just provide a letter accompanying the keys stating that you are voluntarily handing backthe property and that the property is now vacant and of course, cease all mortgage payments
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
gettingoutofdebt
Posted - 09 July 2009 : 07:39:06 It doesn't really matter when you tell the mortgage company but just to be safe you could declare BR with the mortgage shortfall included in the BR and then inform the mortgage company that you are giving the property up and send the keys back to them.
