Hi all, repo went ahead and we have until 17th may to hand over keys........ do we arrange this with primary mortgage company, or the 2nd charge mortgage company who took us for the repo???? It says on the letter we got on the 17th april or before..... we have left the property so sooner rather than later will be better for us..any advice?

Thanks for that, Yes i spoke to the CAB and they said the same. I just want to know if it will be a problem if we dont turn up for the hearing, and what do we do in respect of the keys? If we hand them back to Mortgage company will they still change the locks and charge us for locksmith?

Thanks for the advice, all is appreciated. Somebody told me that if i handed back the keys then i am responsible for the house still? But if it is repossessed then the mortgage company becomes liable??? I am really confused now!!! The hearing is this week, and i would appreciate any other advice, Thanks.

We are facing possession order on 20/3/09 and would like some advice please......... We will not be defending, we have moved out of the property, have no belongings inside and have no intention of returning to the property. I have filled in the forms sent by the court, and attached a letter basically outlining the above and asking for the judge to allow the repo. Questions. 1. We have a mortgage on the house, Capstone is a secured 2nd mortgage. If they get the repo what happens? Do the main mortgage company get their split first and whatever is left goes to Capstone after it is sold? 2. Will the court take the letter we have written into account and grant an order? 3. What do we do with regards to keys if the order is granted? 4. Neither myself or partner will be able to attend the hearing, him due to work commitments and cannot get time off, and me due to taking a family member to hospital for a minor op. Will this be a problem if we dont turn up? Any advice will be appreciated, thanks guys.

Thanks for that Gizmo. So do i still need to fill in the forms and return with the letter?

Ok update, Capstone are going for repo next week. Questions.... 1. Do i have to return the court forms? They went for repo before and was put off as we came to an arrangement before it went to court, so didnt return the forms last time as no need. Just wondered if i still had to send them in??? 2.We want capstone to repo and will not be defending house! Do i need to send a statement to the court highlighting this decision? - we are now renting a house and have moved out of the propery. 3.Neither me or my hubby will be attending court, he has to work and cannot have time off, and i have to take my grandma into hospital for a small op on the date of the hearing. Will this be a problem seeing as we want them to reposess the property? Any help will be gratefully recieved. We are filing for BR the following week, so now feel there is light at the end of what has been a very long tunnel!!!! Hard decision to make, but once done think things can only be better all round, and this site has been a godsend!

Thanks Gizmo, My parents have lent me the money for the deposit for now, and as soon as i have the money for the car am going to pay it back to them. would this be classed as favouring a debtor? (They lent me £1000 for the deposit and rent in advance)

:confused:Some advice please........ Filing for partnership BR in 2 weeks time. Forms all filled in and appointment made at court. Our business has stopped trading, my hubby has a full time job and i am looking for work, but currently signing on. The only way we can afford the fee is to sell the car. I have had an offer on it 2,400 but will be a bank transfer sale as it is a trade sale, have had no luck selling privately. I still need a car and am looking to buy a cheap runabout as i still need to check on an elderly relative who lives 60 miles away on a regular basis. Also i need to pay a deposit for a rented house as the mortgage company are going for repo now and i will need somewhere to live. Would this look bad to the OR that i have sold my car before the BR,? would it go against me? would it be seen as trying to sell off assets? when in effect it is the only way of getting the money together to survive? would appreciate replies asap, the car sale offer is valid until tomorrow afternoon and would like to decide what to do before then! Thanks in advance.

hiya, thanks for advice. Yes have decided this really is the only option for us. We have just had the business collapse on us, cant afford the mortgage and have thousands of payments that have fallen behind. Approx 140k mortgage, 60k in unsecured personal debts,plus the business debts of around 30k. We have moved out of the house now, and waiting for the bank to repo, we have a secured loan on house too so one of them will eventually repo again. we are in rented accomodation, hubby has a full time job and i am now looking for work as i had to wind up things with the business first. So yes i think BR is the best option for us, and yes we are in process of seeking advice constantly from debtline and cit advice. But i will confess since moving out of the house and deciding to go the BR route, i actually sleep at night!!!!

Hi all, i have recieved a SD from connaught on behalf of 1st credit..... Questions.......... Hubby is in process of filing for BR and i was to do mine a couple of months after as we didnt have the money to do both. If i dont get the SD set aside will they go ahead and follow through with BR on me? Will it make sense to let them make me BR? ie save me the BR fees? ( i have nothing of any value, house has no equity and we are looking at vol repo anyway for the house if we cant sell it) I have sent off my CCA for this debt, but not heard anything yet although it has only been a week so far. Any advice would be welcome thanks

Just some advice please............ Am in process of declaring BR and would like to vol repo the house. There is no equity, and cannot afford the repayments on the 2 mortgages anymore. The OR will not be interested in the house as there is no equity there. I would like to know if anyone has done this and how you go about it, and what happened, how long it took etc.............. Any comments and advice welcome please. Thanks guys!

Gizmo111 the business is a partnership between me and my husband. The lease is in his name only, the loan is in his name only as is the company credit card. The house is in his name only, but the 2nd loan on the house is in joint names. And hubby is the one going for BR.

Thanks Palomino, thought so! I am really getting myself confused as to what to do first though! As we have a business which the building is leased but the contents ours, do we wait for the mortgage company to start repo on the house before filing for BR? If we dont there is no equity in it and we would be stuck with the debt still, and we cant afford to stay there, we have found rented accom starting mid-jan. Or do we hand over keys in as a vol repo??? Does anyone know what happens to the stuff inside the leased building? My lease agreement says if i dont pay my rent 2 weeks after it becomes due then the landlord has the right to enter and change the locks and take back the building, terminating the lease. So do i need to get everything out before this happens? can he do this? So many questions! I am going to CAB this week coming, i have appointment with a debt advisor so hopefully that will help me too Thanks

Thanks for the advice goldlady x Another question, we are in reciept of working tax credits (thanks to the CAB for advising us we are eligeble) I have downloaded the EX160 form for fee remission. Does this cover the whole of the BR fee or does it mean we get the court fees waivered but still have to pay for the OR fees???? Thanks.

Yes i understand what you are saying, and thankyou. But if i sold the car privately now, and used the cash to buy another cheaper car, would the OR be able to trace this? As i would still have a car if i got a cheaper one? (We would be using the money for the BR costs and deposit for rented house) Basically i am asking if there would be any come back if i sold the car now and used the cash from the sale to pay for things before it is siezed???