| Author |
 Topic  |
|
|
David.rl
Starting Member
34 Posts |
 Posted - 12 August 2010 : 20:45:43
|
Hi, question re Statement of Voluntary Surrender from Lloyds.
After sending my keys back last week, a letter has been received today asking me to sign this form - it appears to be the standard one that people advise not to sign. Could someone please advise if this is that type of statement - apologies for the long post.
I quote from the letter:
I hereby surrender possession of my property known as....... to Lloyds TSB.
I authorise Lloyds to manage the property in such a manner as it sees fit and to take steps as it may deem necessary to effect the sale of the property, and after sale to apply the proceeds of sale (after deduction of expenses) towards the sum owing to Lloyds.
I understand that the mortgage conditions remain in full force and effect.
I also understand that the surrender of possession of the property does not operate as a discharge of my liabilities under the terms of the mortgage.
I understand that this surrender does not limit in any way Lloyds group poweers which are fully set out in the mortgage conditions.
I confirm that all personal belongings, chatels and furniture have been removed from the property.
My forwarding address is:
My telephone number is:
Should either my phone or address change I will notify you immediately.
Once a possession takes place they are providing me with 28 days notice that they will register a default in my name with the credit agencies and that this will affect me and other members of my household.
I am a bit concerned about the last point as the address I gave them is my parents, and I am not living there - will this affect their credit rating?
Also when I moved my furniture, a sofa (which I purchased from the previous owners) had to be left there as it would not come out unless we took a window out - will this cause a problem?
And finally as I havent gone BR yet is this ok to sign or not - I am so worried?
Many thanks for any help
David |
|
|
Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 13 August 2010 : 11:19:39
|
Hi david
My immediate response to letters like this is not to sign it if you have already handed the keys to them
You could do them your own version of the letter just putting in the bits you are happy with and advising them of the issue with regard to the furniture
Once you go bankrupt any shortfall will be in the bankruptcy anyway.
The entry on your credit rating shouldn't affect your parents, but it may be an idea for them to check their files in a couple of months if they are concerned
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.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support. |
 |
|
|
David.rl
Starting Member
34 Posts |
Posted - 13 August 2010 : 11:44:46
|
Many thanks Bridgewood. Think I will just leave it to the OR to deal with, although it doesnt look like I will be going BR until ens of Sept early Oct - is this too long to wait?, as we got the keys to our rental property yesterday and until I know what the utilities bills etc will be I cant complete the Income and Expenditure correctly.
Could you help with how i detail the house on the SOA? do I input the house still on the secured creditors and on the unsecured ones as well, as I can only estimate a figure on the shortfall? And do I put that it has been voluntarily surrendered?
Sorry to be a pain with all these questions
Many thanks
quote:
Originally posted by Bridgewood
Hi david
My immediate response to letters like this is not to sign it if you have already handed the keys to them
You could do them your own version of the letter just putting in the bits you are happy with and advising them of the issue with regard to the furniture
Once you go bankrupt any shortfall will be in the bankruptcy anyway.
The entry on your credit rating shouldn't affect your parents, but it may be an idea for them to check their files in a couple of months if they are concerned
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.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support.
|
|
|
|
Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 13 August 2010 : 15:14:11
|
Hi david
As far as the house is concerned, put it on the secured creditor section and the property section - i wouldn't bother with putting the shortfall on the unsecured list
You will also need to put somewhere on the form that you have handed the keys back - maybe as a note to section 8
Good luck
p.s. september isn't too long in terms of making yourself bankrupt, but I wouldn't delay just so you have more accurate figures for your expenditure - you can make a reasonable estimate of gas/elec/council tax etc straight away, and most of your other standard outgoings will be the same irrespective of where you live
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support. |
Edited by - Bridgewood on 13 August 2010 15:16:59 |
|
|
|
Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 15 August 2010 : 00:16:32
|
You may also want to keep an eye on the property to make sure they do fully "accept the voluntary surrender " or "reposess the property". Otherwise you will need to change your council tax position and let them know that your have gone Br too to ensure that this doesn;t cause a future problem.
Thankfully you are not with Northern Rock who seem hopeless at formally reposessing property
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
|
|
|
David.rl
Starting Member
34 Posts |
Posted - 15 August 2010 : 11:33:25
|
Thanks Reviva and Bridgewood.
I cant really keep any eye on the property as I am now 200 miles away, however the lady at the Countil Tax dept was very helpful and when I told her I would be going BR soon, she said to let them know and they would then Put a Q exemption on the property so hopefully this should be ok.
/thanks again
quote:
Originally posted by Reviva UK
You may also want to keep an eye on the property to make sure they do fully "accept the voluntary surrender " or "reposess the property". Otherwise you will need to change your council tax position and let them know that your have gone Br too to ensure that this doesn;t cause a future problem.
Thankfully you are not with Northern Rock who seem hopeless at formally reposessing property
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions
|
|
|
| |
Topic |
|
Hi, question re Statement of Voluntary Surrender
