my bankruptcy date was April 3rd and the court date for home repossession was May 22. My hubby and I did not attend as we had no intentions of keeping the house. Picture Loan held the second secured loan on your property. When selling a house both the first and second secured loans have to be paid, as you are aware. Now, Picture Loan didn't agree because they wouldn't have received there money in full when the house sold. Is this correct? So, they said no. However, there was enough to pay the first secured loan(mortgage). There would have been a shortfall with Picture Loan therefore the sale wasn't allowed.
From what I have learned about secured loans upon the house selling they must be satisfied in full. I too had a secured loan on my property AND charging orders,but the bankruptcy took care of that. As for you having to appear in court on the repossession date, no, you don't have to appear. The judge will grant in favour of the Northern Rock as your not appearing informs the judge that you do not want the property. You will receive notice of this decision from the court. The next step Northern Rock will take is to issue you a vacate the premises notice. This is the date you have to be out of the property and they send the bailiffs just to make sure.
That's the worst case scenario above. You could always contact Northern Rock and Picture Loan and try to work out the arrears that you can comfortably afford and appear in court so the judge can hear your proposal and approve it. Once approved Northern Rock and Picture Loan can't take any further legal action unless you default on the payments. Good luck jane.
Hope this helped jane. A bankruptcy expert will be along and assist you further. I am not an expert. I am someone that petitioned for bankruptcy.
Take care.
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