I am worried about my friend who seems to have withdrawn completely. I want to reassure/help her. Her house has been repossessed. Her partner left & she tried to struggle with the mortgage alone. Will she need to wait until the house is sold before declaring bankruptcy? She isn't doing much towards situation. Also she is worried that she will not get rented accomodation & will be at her parents for years.
Hi Mrn, Welcome to the forum. Your friend is blessed to have a good friend like you who is hoping to help her. This site will give valuable advice from experts but also frank details of experience we have gone through with our own BR. She needs to get advice firstly from one of the free services such as Citizens Advice but I found the CCCS helpful. http://www.cccs.co.uk/ I think, if her house has been repossessed, that the shortfall will be included in her BR if that is a step she decides to take. She may be advised to do something like an Involuntary Payment Arrangement (IPA) as they will try and avoid suggesting BR unless the debts are totally unmanageable. They will explain all avenues to her but it may be that BR is the best route for her. She is not alone. Keep posting and the wealth of advice available here should help her make a decision and to look to the future.
Hi Thanks for your advice & link to helpful site. She is still quite down & it was a bit of a shock, the house for sale for over £100.000 less than purchased for. (thats between her and ex) She wants to get divorced as well. Just all got overwhelming I think. But I think she is beginning to see there willl be some light at the end of the tunnel even though it may take sev months. She is thinking to go bankrupt. There is a wealth of advice on here. It is excellent support.
Your friend can declare BR whenever she wants and doesn't have to wait until the house is repossessed/sold. She should include the mortgage details in her SOA so that any shortfall will be included in the BR and will be written off.
Getting a rented property from Letting Agencies can be difficult when you are BR as they will normally do a credit check. Private landlords are normally ok but your friend can always get rented accommodation before declaring BR and then there shouldn't be any problem with the Letting Agency.
As frosie says, the CCCS are very helpful as are the CAB and National Debtline. Unfortunately all of these companies are very busy at the moment so it may take a while to get any advice from them.
The other option is to speak to the following companies who post on this board as they are highly respected. They offer free advice and will only charge if you want their assistance in completing the BR forms or even accompanying you to court on the day:
BR isn't something to rush into so your friend should seek professional advice regarding her options and then plan ahead i.e. secure rented accommodation, save for the BR fee (£510), etc. in order that everything goes as smoothly as possible.
HelloI am worried about my friend
Posted - 06 July 2009 : 19:20:51
