I gave up my house by voluntary surrendering the keys to Northern Rock, on the letter they sent they wanted me to sign that I would be responsible for shortfall, when speaking to the OR in my case this was not true as the house was included in the bankruptcy, so I deleted the clause, the house is still for sale and I moved out on 5th March into rented accommodation and then a council flat. The experts here would probably confirm that I think.
Thanks for your reply Jurgen. I think we will be ok but I really want to see the property sold and the credit file say 'satisfied' as soon as possible.
I looked at your profile and, sadly, it sounds like somone told you you were getting an IVA but actually gort a Debt Management Plan. Is that right?
Good luck with your upcoming discharge and paying off the ipa.
I started off with a debt management plan for 3 years which at the time I thought was the responsible thing to do, but was then talked into a IVA which in my case was not the correct thing to do and I struggled with that for 2 years and bankruptcy would have been the better and more realistic option.
mortgage shortfall/credit files
Posted - 10 February 2009 : 18:38:25
