Hi A newby to this forum.I went bankrupt in April 2010 and had the interview with the OR and supplied all the information requested promptly.However i have a secured loan on my house with First Plus who I have informed I am bankrupt and they need to go through the proper procedures of apllying for repossession.However they handed the debt over to Gothia (Red Castle Recoveries) who are hounding me with daily phone calls and our now calling at the house.Each time I have been out but they have posted letters through the door demanding I get in touch with them.When I did they said they weren't interested that I was bankrupt..they want their money.I know I will probably lose the house so why do they keep up with this course of action and what can I do to stop it?
If they are chasing mortgage arrears they are in a different boat to your other creditors.
Other than telling them you are bankrupt I'm not sure there is much more you can do to stop them hounding you, but I am sure there are others who may be able to give you more help.
If it is with regard to mortgage arrears I would tell them you can't pay and tell them to commence proceedings for possession - unless you want to try to keep the house you have no obligation to pay the mortgage as any shortfall goes into the bankruptcy.
If it is to do with anything else other than mortgage arrears it is a bankruptcy issue so ask your OR to contact them to stop them pestering you.
Good luck
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
I take it from the way you have written your thread that you have decided (?) to stop paying mortgage and second charge.
I also take it that you are intending to stay put until you have secured alternate accomodation.
Visit your local council or housing association and inform them of your situation, they may be able to assist with alternate accomodation.
Unfortuantly the debt collection process will not go away until they have received money, you have handed back the keys or they have a possession order. The second charge people think that you have tons of equity in the house so want you to release the money and pay them.
The court process can be very slow so if they have not been to court yet, it could be 2 - 3 months down the road but the negative of the time frame is the calls and visits from the collection agency will get very intensive.
If you are intending to stay in the house, get your negotiating head in gear and try to obtain a 6 - 12 month agreement with mortgage provider and 2nd charge people.
they will not allow you to pay one without the other
Thanks for the replies Richard and bridgewood.in actual fact the interest on my main mortgage with Bank of Scotland is being paid at presnt by the DWP as i still unemployed.As it was an interest only mortgage in the first place,they are not in arrears and are getting their money every month without fail.it is First Plus who are kicking off all the time because I simply cannot pay them.The frustrating thing is that I have told them to start repossesion proceedings but they do not listen.can i report them to the FSA for harassment?? regards Martin
We have a 2nd mortgage on our home and the DWP are paying that as well as we used the majority of the money to do the house up. If the 2nd mortgage was for consolidation loan was the depts you had for items you spent on the house like having shower put in etc...if it was contact DWP again they may be able to help with the payments for those too.
HiA newby to this forum.I went bankrupt in April
Posted - 26 May 2010 : 09:08:03
