www.iva.co.uk

Hi,

I have tried on a few occasions to try and get my OR to ring me but not luck as off yet, anyway a question if anyone can help.

i have tried a number of agencies regarding renting but as a BR i would either need to raise 6 months payments in advance or have a guarantor which is not an option for me either way. Right the question is what are the consequences of me not paying my mortgage (the house will have to go under my BR), I know that if i am 3 months in arrears then the mortgage company will start the repossession order and probably take a further 3 months after that. How would the offcial reciever look upon this, i would need to do this to be able to raise the money for a private rent.

Thanks

(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

Hi Coco,

This is a difficult situation and unfortunately I think your OR is the best person to advise, please keep trying.

I have heard of many cases where a bankrupt person has applied for a rental property and only asked to provide 1 or 2 months rent. I can’t believe that someone could ask for 6 months rent up front, this seems ludicrous.

I suppose it is because a lot of people cannot see that bankruptcy does not hold the same stigma as it did many years ago.

Best Regards. IVA Experts

coco i have come across the same thing, i telephoned one letting agency and have received a letter to the effect with special insurances plus deposit plus 6 months up front i would be looking at £8k , can you believe that, my or said to me coco it was down to me if i continued paying mortgage or let the mortgage company go for repossession as either way under BR the house will be going.
kerri

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

The Official Receiver will not be concerned whether you are paying your mortgage or not, although out of courtesy I suggest that you inform them of your actions.

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