www.iva.co.uk

well finally received the letter we have been waiting for, to say that the OR wants £28k for the BI, now there has been a lot of confusion over the BI due to NR giving the wrong amounts and this is why it has taken so long, it gives us 21 days to reply if we want to buy the BI, obviously haven't got that kind of money in my back pocket at the mo so will have to pass on that one, just wondering how long they will give us now to leave, can't phone them today as its saturday and the OR's letters have a habit of coming on a saturday!!

the mortgage is due on thursday do i pay it as if i don't we will then be 3 months in arrears, and NR will be able to go for repossession, just wondering which is the best way forward at the mo, thanks in advance.

mish if you are on how did you go about getting your council house we are on the waiting list, ironically we got the renewal yesterday, did the OR give you a letter?

kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

Cant answer your question Kerri just wanted to say so sorry bout the house,i really did hope you would be able to keep it,if i win the lottery tonight then i will give you the money.xx

Hi Kerri

As you are aware the OR allows you 12 months to make alternative living arrangements before he is able to commence possession proceedings, however a mortgage company can do this after three missed payments.

My suggestion is that you start paying your mortgage company the market value for renting your property - have a look at rightmove.com for local comparisons. This money will be allocated against your mortgage account and will stop the possession proceedings which cannot start until you have missed three full payments. Obviously if your mortgage payments are lower than the market rental then just continue to service them.

It then makes sense to start to look for a property to rent, which when found you can hand the keys over to the mortgage company or the OR to sell.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi Kerri, i would have thought that if there's no way you can keep the house, then maybe you shouldn't pay the mortgage and keep the money to put towards a rent deposit?? Also, quick thought, can NR go ahead with repossession, as it's actually the OR that now "owns" your house? I would have thought that the OR would be in control of the sale and not NR.

NR still have the right to go ahead with repossession if it came to that, i think it would still go through the OR but yes they would have the right to turf us out, to be honest there has been such a boob over the BI and the OR hasn't got a charge over the house through land registry as they told me not sign it as there was no equity, hence the messing about, NR have given them so many different figures each time, the last one before this one saying we owed the full amount of £130k so there was no equity, i haggled with the OR as they told me definitely i could keep the house as in negative equity, told them to go back to NR and ask again, she did it 3 times and said you defo keep the house, now they have come back and said a mistake has been made which i pointed out months ago, we could have been gone months ago, knew it was coming obviously but they have messed us about so much.

melanie we are only paying interest at the mo,which is cheaper than local private letting, but i was paying something off the arrears also, £100 per month to keep them off my back, because we used 2 months mortgage to save for the BR fees, well off to look on the net for a house, don't know how i will raise the 6 months deposit if i can't get a council one.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

Hi
Yes they can,that is why it is important to keep up with payments until you know what you are doing and where you are going
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Kerri I'm really sorry to hear that you'll have to move. Good luck with finding somewhere x

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Aw Kerri, sounds like you've been messed about. Good luck with the house hunting.

Sam

Hi Kerri ... Just wanted to say good luck and that I'm thinking of you.

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk

thanks everyone, i knew this was on the cards just wished we had moved sooner, just trying to keep everything normal for the kids as the next 2 yrs are really important ones for my eldest.

i was just wondering if its 12 months from date of BR or from the day we say we can't raise the BI, i know they can also allow 3 yrs at a max, not that i want to stay for the next 3 yrs.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

Kerri

I am soo sorry, I really didnt think they could make a boob like this mind you I feel you had your always had this dark cloud hanging deep inside, even though you checked it with the OR again and again. Girl you have been through sooo much this year, I know youre not well but am suprised youre still standing.

I think I would be inclined to go through the council house route, I know its really uncertain and unknown right now but in the long run it will be yours and wll give you long term secutiry. With a letting, they are short term, I believe and subject to renewal every year.

You trully deserve some peace now and to be able to look ahead and move on with your life. Sending, thoughts and extra special love and hugs your way.

Please take care

lily

Hi Kerri

So sorry to hear about the house, hope you get something sorted soon, I am still waiting to hear how much the BI will be set at but am starting to think it might be best all round if I let the house go, trying to think ahead as to when I would be able to pay my parents back etc if they can raise the amount. Its all very depressing, my daughter and I have lived here for 11 years, and although BR has been quite smooth I think the possible loss of our home is the full realisation of the mess I have made of everything.

Really hope you get some positive news soon.

Take care

Pippa

Kerri

The timescale runs for 12 months from the date of the bankruptcy order unfortunately.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

thanks melanie i thought it did, do you think now that because we are discharged they will want to move on it as soon as possible?
thanks
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

They can't really do anything inside the 12 months Kerri, so if you have made up your mind that you have to move I would stretch it out as long as possible whilst you save up that rental deposit.

If there are arrears on the mortgage, the OR is more likely to leave possession and sale up to the mortgage company, so if you want to buy yourself some more time try and pay something towards the mortgage to avoid proceedings.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp