Homeless in BR

[mish1953]

Hypothectical Question ..

Has anyone that is BR and has equity 'fought' against the courts/OR to retain their house on the grounds of
Human Rights Act 1998, The First Protocol, Article 1 ?
Article 1 of the First Protocol to the Human Rights Act 1998 states ‘every natural or legal person is entitled to the peaceful enjoyment of his possessions and no one shall be deprived of his possessions except in the public interest’. This indicates that possession of the family home should only be interrupted if it is in the public interest. It may be argued that leaving a family homeless in order to pay a bankrupt’s creditors is not in the public interest.

ie: if it could be shown that it was impossible to get a private rental and you were going to have to throw yourself on the mercy of the public purse to get a council house - could it be argued that the OR should not be able to take your home away on the grounds that it is not in the public interest .


Have a look at ..
http://www.insolvency.gov.uk/freedomofi ... part_8.htm

These are the Insolvency Services on-line notes !

"In applying sections 335A, 336 and 337 of the Insolvency Act 1986 in a manner compatible with the Human Rights Act 1998, the court may perhaps treat the circumstance of a family about to lose their home to a creditor as an exceptional circumstance. The enactment of the Human Rights Act may redefine a bankrupt family’s rights. "

Makes ya think
Mish

[coco]

Hi Mish what interesting reading your post makes, I had only about 7K equity in my house and by the time the mortgage company has their return plus all charges etc, it would leave aprrox 3K for the OR which in my opinion is not a great deal to force a family to leave what is their home. My children have lost the comfort of somewhere which they could feel safe in the knowledge that in anytime in their life they would have a home. I am now in temp housing by the council my son has lost his friends and now has to travel on a bus to get to school as he about to start his last year so changing schools for him was not an option. At the end of the day i was the one who owed the debt not my kids and yet this will and has effected them the most. I would appriciate the fact that i could loose my home if we are talking of large amounts of equity but mine was very small in comparison. As this is the only money that is available to the creditor (equity) by the time this is split the return is almost 0 yet they could have had 37p dividend. Anyway after all that is happened in repects to loosing the house i am happier now i dont have a mortgage i dont owe anyone any money if i could have fought harder to have kept my home looking back probably not but i am sure that if someone has the will to fight and knows the law well who knows. I dont know how forcing my family to leave the house is in the publics best interest [:)]

view my blog http://coco.blogs.iva.co.uk

[fudge34]

Hi Coco
Did you go BR? I thought that having little equity would have been a plus for you? am slightly concerned as I am about to go down the same process and have little equity but was hoping that my husband could buy it from me.

[coco]

Hi Fudge,

Yes i went BR in March this year, a 3rd party could have bought the equity but as i do not have friends or family to have done that i had no alternative but to surrender the property. The OR told me that a 3rd party would have to raise the full amount of equity. I would have also had to pay for a valuation plus solicitors cost etc which would have cost almost 10K including the equity so it was not possible.

view my blog http://coco.blogs.iva.co.uk

[coco]

Hi Fudge,

Yes i went BR in March this year, a 3rd party could have bought the equity but as i do not have friends or family to have done that i had no alternative but to surrender the property. The OR told me that a 3rd party would have to raise the full amount of equity. I would have also had to pay for a valuation plus solicitors cost etc which would have cost almost 10K including the equity so it was not possible.

view my blog http://coco.blogs.iva.co.uk

[fudge34]

oh no I am sorry - how is life in BR? I am about to make that step but find it hard to imagine myself doing it. I need to get some advice on my house too as I will not go through BR if I stand to lose it as its a joint mortgage with my husband and we only brought it last year - when I filled out my IVA form it noted that I had about 3 grand equity in it (my share) but I am worried that if I wait a whole year for my BR to be discharged and for my husband to buy me out then the house prices will have risen again. I hope things are looking up for you now.

[coco]

Hi Fudge, as the house is in joints names you would still need to find a 3rd party to raise the equity, however when you speak to the OR discuss how soon they would accept an offer as you have said the house prices will rise over the next 3 years so the longer it is left the more you will likely have to raise, even though i had 2 valuations that were less than 2 months old at the time i would have still been requested to have a more recent one done at the time if i was to pursue with the house and i know that the house around me were selling fast and my equity would have gone up.

Anyway going BR has been the best thing for me I now have a clear start and expecting baby # 3 which would not have been possible had i still been in my IVA. I have no regrets i think things may have been different if my heart belonged to the house.

view my blog http://coco.blogs.iva.co.uk

[mish1953]

Coco - I know that you wanted to get out of the house and I must admit I would rather be rid of mine and in the rental market.
I have an interest only mortgage so would need to find captial at end of the mortgage .

BUT according to the stuff on the Insolvency Service website ... if you are likely to be made homeless then there is doubt about whether they can take your home .... if it can be shown that its not in the public interest...

It was buried in the web site, I found it using their search engine, if it is true then it would blow away the idea of someone going BR losing their house .

PS I have £20k equity in mine !
Mish

[coco]

Hi Mish,

I would never entertain a mortgage again, i dont have to pay maintenance on a property i dont have buildings ins, ok i dont have a house to leave to my kids but when you look at what you pay back in a mortgage to how much you borrow i could put that money aside during the next 20 years or so and have more too leave in my will [:)]

view my blog http://coco.blogs.iva.co.uk

[aguise]

Hi Coco
How is the housing situation going for you ?
Hope you come to the brum meeting looking forward to it.

Ang


Please visit my blog at http://aguise.blogs.iva.co.uk/

[coco]

Hi Ang,

Yip i will be there i dont live far from Brum in Telford. I am currently in Temp accom will be there for at least a year as no council houses are available which i dont mind as my furniture can not take much more moving around[:)] so happy with arrangement for now.

view my blog http://coco.blogs.iva.co.uk

[coco]

Hi Ang,

Yip i will be there i dont live far from Brum in Telford. I am currently in Temp accom will be there for at least a year as no council houses are available which i dont mind as my furniture can not take much more moving around[:)] so happy with arrangement for now.

view my blog http://coco.blogs.iva.co.uk

[aguise]

Glad you are ok, I think tyou are very brave and have dealt with it all so well. I really hope you get a house to settle in sooner rather than later. Look forward to seeing you soon
Ang x

Please visit my blog at http://aguise.blogs.iva.co.uk/

[lily]

Me too Coco, it will be so nice to meet. I think you are brave also. I hope that things will be sorted for you soon.

lily

[MelanieGiles]

Sorry guys, but the way the Courts in England and Wales are operating at the moment, the repossession of your home is a most likely experience, and you would spend lots of money you don't have appealing under Human Rights law - which you cannot do whilst you are still bankrupt!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk