hi GuysSpoken to CAB and she said pretty much what everyone else on here has said ref the forms. She said I could post keys back with a letter and that there isnt much the lender can do, ie they cant force me to stay. She also said that they may bide their time with requesting the shortfall as they have 12 years and could wait till im (Hopefully) qualified and therfore earning more money to come after it. She was really lovely and said the main thing is to sort out a house (Which as above i have already done) and I think im just gouing to post them back. Is there anything i would need to put in the letter in particular? She couldnt answer this specifically - just wondering how to word itThanks Dizzy

Ive had the forms through this morning, It actually states on them "If you are in arrears and we do not receive the completed forms within 7 days we will proceed with appropriate action to take possession of the property". Does this mean I have kickstarted the proceedings so to speak by letting them know my plans? I have my appointment with CAB this week coming so that should make things clearer. I have been talking to my husband about what people on here have advised ect and we are in agreement that banbkruptcy would be the best thing to do. As geoff said earlier about being chased after 10 years we just want an end to it, I cant imagine what a shock that must have been. Thanks

Thanks for your help everyone. I have read somewhere that they still have to accept voluntary even if you dont sign the deed??? i.e just post the keys with a letter. If not i will have to let it take its normal course. I wouldnt have thought it would take them too long as Ive made them aware that we are moving out at the end of the monthDizzy

Hi All, Tonycee, your post and link explains somethuing the mortgage co said to me the other day "as long as all the forms are signed and nothing is crossed out we will take possesion" I asked him why I would cross anything out and her just said "some people tend to sometimes". So it sounds like i may be better to just leave!!??? I am currently 2.9 months behind and will be 3.9 at the end of august which is when i need to move as i have found a rental with a good landlord -(My friend has been living in the house so I know she has been looked after and its the right size and area ect.) He has given me the tenancy agreement to sign but i will need to move in last weekend in auigust at the latest as she has already left and landlord needs tennants in. I am definately going that is one thing i have made my mind up about and it feels the right thing to do its just the repo process thats scaring me - Im worried about the inbetween. Will they not accept voluntary if i dont sign deed? I am fully aware that if i dont go bankrupt i would be liable for the shortfall but as i have no assets surely they could only take what i have spare every month which isnt much as im going to uni in september.Has anyone got a payment arrangement on a shortfall?Thanks Dizzy

Hi tony, I did look at renting and have had estate agents round but the rent we could get is £200 less than the mortgage is costing and we are struggling as it is. as well as that we would be responsible for all maintenance costs and We can barely afford it when anything small goes wrong. Unfortunately we bought in a very rough area, (young and stupid i guess) so things arent likely to get better anytime soon - thats why we need to move out its an awful place to live and we have put it with it for long enough. Thanks for all your advice so far everyone - helps to know we are not the only ones . Thanks

Thanks for the replies, I havent spoken to the mortgage company yet, they have been calling but I havent had the guts to answer them as yet. They have sent letters telling me im behond and to contact them to discuss it Tony did you let a house repossessed? It would be good to hear from anyone who has been through this and come out the other side. from what everyone has said it seems i would be better off telling them what im planning rather than just leaving. looking at what you have said born, youre right the only hold they have is the house and i dont want it, we havent been happy here for such a long time now i think we are doing the right thing.

Anybody???

Hi all, I have got an appointment with cab but not for two weeks!! In the meantime does anybody know if it actually makes the repossession process quicker if i hand the keys back instead of just letting the proceedings take their natural course?? Thanks dizzy

Hi Guys, I will try and get in touch with CAB. I feel i have looked at all my options, I dont see a way out of this without staying put in this house which I dont want to do. Its the best thing for my family to get away from here and tbh Ive resigned myself to that fact now, its been a long road to get to this decision. Redf being worried about the insurance im just not sure how it all works, im just worrying really but the top and bottom of it is we need to move for everyones sakes really - its not good to feel dread when you come home at night Dizzy

Hi Lea, Thanks for your input - do you know if it will speed things up if I were to post the keys back rather than just let it go if you see what i mean? I have looked into my current insurance and it doesnt cover me being away from the property for any significant length of time. Is there insurance that covers vacant property? as you have said if im going bankrupt it doesnt really make much difference as to what the shortfall is. Im more worried about the hassle if anything happens to the house - its just that kind of neighbourhood. I have had some independant advice from cccs that has basically said that my only options are bankruptcy or a very long dmp. I did ring payplan earlier in the year to find out about doing an iva but in the current climate the costs we were being given to live on were really tight and i just cant see it working for five years in reality. Thanks

Hi All, Im hoping somebody can help me. Myself and my husband have been struggling with debt for a few years now. we took out a together mortgage with NRock in 2004 and paid way over the odds for our house its currently in at least 30k negative equity with no prospect of selling due to the current market and the area which we live in. We have accepted that we cannot afford to be homeowners as we have no spare money for maitaining the house or repairs, for example central heating is on its way out, havent been able to decorate since 2005 ect. anytime anything breaks/wears out it is like the end of the world as we try to get the money together and quite frankly I cant deal with the pressure anymore.It may have been worth fighting for the house if our neighbours werent a nightmare as well, they stay up every night drinking, playing music ect but thats a different story. This place doesnt feel like home and I want my children to be able to play out without abuse from the neighbours. Anyway - we need to move and have found a rental in a lovely area with a landlord who is aware of the situation and a saving of 200 a month compared to the mortgage we are currently paying. i want to let the house get repossesed but dont know the logistics of this - We are currently three months behind with the mortgage (Have been saving for the rental as I read advise on here) and will be four months behind when we move. Do I post the keys to them??? Also I am worried about anyone breaking into or damaging the property before the mortgage company take it back. This is the kind of area we live in at the moment, people are living in caravans on their parents driveways so I am worried about squatters and who would be reponsible for this. We are planning to use the rent saving to save to go bankrupt as we also have unsecured debt of approx 10,000. If anybody could shed some light on the process i would be very grateful - I have been reading the boards but cant find specific answers about damage ect. Also if i post the keys back would they re-possess sooner? Aopologies if the above seems to be a bit of a ramble, I feel better just getting it all down Thanks Dizzy