After reading many stories on here I took the steps and went to court and so far it has been the best thing ever. Although I do have a few worries about my current property which is mortagaged. I am not behind on payments and my sons and partner live here with me. The questions I have are about when I renew my mortgage can the company I am with refuse to re mortgage?Even though I have been tied in for 10 years before I was bankrupt. i am just panicking. I have been bankrupt since march 2009 and have been discharged. I got a letter from the courts about the BI on my property. I did pay the £211 and the £1 and sent in all the quotes from the estate agents. However they then asked me a year later if i still want to buy. I am fuming as I went through people nosing around my house and having to answer questions as to why I am selling. So again I have got some quotes in writing. My quotes were £172,950 and 175,950 my mortgage is 180,000 so how do they work out what is to be paid. It looks to me like I am in negative equity. any advice would be useful.
If you are in negative equity then I was under the impression that you just paid the £1 plus the fees to take the house out of the equation.
Hopefully one of the experts can help.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
The Trustee does not have to accept the offer of £1 plus costs. They can sit on that property for up to three years before they need to decide what to do. In a property market which may be showing signs of improvement many practitioners - including myself in my own bankruptcy portfolio - are taking a longer term view.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
