Thanks to everyone on this forum for their advice, dunno where I’d be without it!
It still has not sunk in yet!!!
I actually rang Picture Finance yesterday, about our secured loan, I said I was trying to get an up-to-date amount of what I owed, I explained that I just could not understand why the decision was made NOT to allow the sale of our house. I did not mention bankruptcy but the fact that now, with fees, interest, etc and the fact that houses in that area are slow to sell, I thought Picture would be lucky to receive even a very small amount of money back. The man I spoke to was actually very nice and he agreed that it was a bad business decision on their part when I told him the house has now been repossessed.
They will shortly find out about the bankruptcy but really it gives me no pleasure that it has had to come to this, maybe these secured loan companies will re-think their tactics when this situation crops up in future, there must be other people in this situation.
If they had agreed to the sale, they would have received about £16,000 immediately, and then we may have pursued the IVA route to repay as much as we could, but now they will get nothing.
