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T O P I C R E V I E W
NOMOREDEBT76
Posted - 02 August 2009 : 09:00:23 HI ALL...IM A NEWBIE..ME AND MY WIFE HAVE DECIDED THAT BR IS THE RIGHT THING FOR OUR SITUATION..WE'VE TAKEN ADVICE... LOOK AT LOTS OF THE POSTS ON HERE AND DRUNK TO MUCH COFFEE..THE QUESTIONS I AM TO ASK IS REGARDING OUR HOUSE..BOUGHT IN 2007 WAS GREAT FOR ABOUT A YEAR THEN THE NEIGHBOURS FROM HELL MOVED NEXT DOOR.ANYWAY WE HAVE A NORTHERN ROCK TOGHTHER MORTGAGE.£80.000 LEFT ON MORTGAGE AND £23.000 ON THE LOAN (UNSECURED) THAT RUNS WITH IT...NOW THE HOUSE HAS BEEN VALUED AT £70.000..WE WANT TO MOVE WE HATE THE AREA AND HOUSE.. I WANT TO KNOW IF I CAN GIVE THE KEYS BACK TO NORTHERN ROCK AND ANY SHORTFALL BE ADDED TO BR..FOUND PRIVATE RENT THAT WILL BE READY IN 2 MONTHS...ALSO DO I GIVE KEYS TO NR OR TO THE OR. WHEN WE MOVE INTO RENTED IT WILL TAKE A FEW MONTHS TO GET BR FEES IVE STOPED PAYING THE MORTGAGE AND CARD PAYMENTS..SO HOW LONG BEFORE I GET BALIFFS/COLLECTION AGENTS AND GET AVICTED....... WHEN WE GO DO I STILL HAVE TO PAY COUNCIL TAX AND BUILDINGS INSURANCE FOR OUR OLD PLACE... SHOULD I REDIRECT OUR MAIL OR NOT.... ANY ADVICE PLEASE
2 L A T E S T R E P L I E S (Newest First)
swbankruptcy
Posted - 14 August 2009 : 08:32:19 we have had a number of properties repossessed over the last 12 months and the longest took 12 months. Saying that once we had got past 3 months of missed payments we were offered the option of voluntary surrender and handing the keys over to the lenders.
All unsecured debt can be included in the BR, including Council Tax. Make sure you split the NR loans into two - then list £1 against the future shortfall on the mortgage.
But - move into rented accomodation BEFORE you go BR
Reviva UK
Posted - 02 August 2009 : 10:58:26 Hi if you haven't missed any mortgage payments yet then you have 3 - 4 months before NR start legal action.
1st is the posession hearing 2nd is the reposession hearing 3rd is the eviction.
this will probably take 2 - 4 months AFTER loegal action starts. In theory you could be in the house for 6 - 9 months before eviction from this point.
If you have decided that leaving is the right solution then you need to save a decent deposit for the new home.
