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sarahk37
Starting Member
United Kingdom
2 Posts |
 Posted - 19 September 2009 : 17:59:52
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| hi, myself and my husband are currently going through the mortgage rescue scheme process. we are at the moment waiting to see if the housing assosiation are going to make an offer on our house, whereby we would then no longer own our house and be paying rent instead. this process is extremely stressful in itself but after this we are both considering bankruptcy as we have individual loan and credit card debts and the joint debt of the mortgage. we can't go bankrupt untill after the house is sold because we will probably have mortgage arrears to clear. sorry this message is abit long, in the meantime i have just had a visit from a so called counsellor to discuee my debts with a bank, i did'nt answer the door, but i was under theimpression they are not allowed to call at this stage without my permission, is this counsellor a debt collector in disguise. i am quite stressed out because i have three weeks untill my third child is born and i don't know how long it will be untill i can go bankrupt. i think bankruptcy is the right option for us both as we will have no assets, no valuable possessions, and i am onstate benefits, we are really not bothered about credit or mortgages in the future, any advice from anyone who is aor has been in asimilar position would be appreciated,sarah |
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Jane.l
Average Member
511 Posts |
Posted - 19 September 2009 : 18:07:34
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I would ignore this debt counseller/collector, they can call at anytime, they don't need permission but have no rights, I had one call on me, I answered the door and he was quite polite but I did not let him in or deal with him, I just informed him I was bankrupt and he left
A point to bear in mind: is the housing association who are buying your house, going to be paying the full market value for it??
If not and you then go bankrupt, this will be seen as a transaction under value and could be overturned.
have you had professional advice? eg: CAB, CCCS |
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sarahk37
Starting Member
United Kingdom
2 Posts |
Posted - 19 September 2009 : 18:11:04
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| we have had ongoing advice from the cab , i think ispent most of the summer holidays up there, we have had a survey done , i don't know what, if any offer will be made yet though |
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RHB
Senior Member
1159 Posts |
Posted - 20 September 2009 : 08:50:27
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| I think it unlikely to be overturned tbh, because the other option of repossesion would still result in a shortfall in all probability. |
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Dec Bankrupt
Starting Member
United Kingdom
13 Posts |
Posted - 20 September 2009 : 21:55:57
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Hi
I was accepted onto the Mortgage Rescue Scheme as a bankrupt and they treated me the same as a non bankrupt. They liased with the Official Receiver and mortgage company on my behalf.
Any outstanding amount left over from the mortgage, i though would become an unsecured debt and written off by Bankruptcy - check with your CAB.
I pulled out of the scheme in the end as my circumstances changed, hopefully for the better.
Best of luck with everything. |
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bankruptcy after mortgage rescue scheme process
