Mortgage shortfall

[wales01man]

Hi,
I know someone here will be able to advise they always do.
As i have stated in some previous posts after we had our house repossed there was a shortfall of just under 10k although the mortgage was in joint names the solicitors acting for the company are only chasing my wife i suspect cos its hard to find me letters were received by her last year with the usual pay up agree repayment plan or they will take court action with all the usual costs etc.
We had decided to ignore the letters now there coming again we will again ignore until they if they want to try for a CCJ if and when this comes through she will go bankrupt as there is no way she can pay it back even over the next 100 years one CCJ at the moment will take 92 years to pay off LOL.
Question is if she goes bankrupt when the paperwork they send out from the court prior to the case will it be taken into account along with other debts including the current CCJ and it will get written off she has no assets that a bailiff could take if a CCJ was to happen and they were involved so we lose nothing just the debts hanging around her neck.
Any help would be appreciated

[wales01man]

Re: Mortgage shortfall

Bump can anyone help?

[SpringerSpaniel]

Re: Mortgage shortfall

You could also contact the Bankruptcy Association of Great Britain and Ireland for their advice www.theba.org.uk

[wales01man]

Re: Mortgage shortfall

THought there was no advertising on Lega;beagles>

[IanM]

Re: Mortgage shortfall

Hi Wales01,

Which solicitor is chasing you?
Which mortgage company?
Do you have all the paperwork from your mortgage?

[wales01man]

Re: Mortgage shortfall

We have no aperwork concerning the mortgageif i name the solicitors and company on here they if reading the forum could find me put them together with the shortfall and its easy?

[IanM]

Re: Mortgage shortfall

OK, i understand, send me a private message with the answers and i will try to help as much as possible via PM's.

I really do hope some of the people working for these companies are reading the comments i put about the mortgage companies and are taking note, I DO NOT BACK DOWN AND WILL NOT BE THREATENED OR INTIMIDATED!!!!!!!!!!

We have no aperwork concerning the mortgageif i name the solicitors and company on here they if reading the forum could find me put them together with the shortfall and its easy?

[Nikolai]

Re: Mortgage shortfall

If your wife goes bankrupt that's the end of any debts she owes, including any current court claims against her.

[wales01man]

Re: Mortgage shortfall

Thanks to you both Ianm and nikolai as i thought if they go for a ccj she will go bankrupt its nice to know that they will be paying fees to get a CCJ then she can stuff them if this happens i shall let them know im about and let them and some of the others i owe where i am to force their hand and get them to go for a CCJ against me then do the same my debts are in the region of 60 to 70 k we are not in any position to ever pay any of them back so this will be the end of it all paying for bankruptcy is a small price to pay to end all of this we will never need credit my wifes ill health will never get better so she will never work again and im content to care for here getting paid 58 quid a week carers allowance after everthing we went through years of working long hours and building up 2 businesses and what we had before the recession when we lost it all we are now happier than ever we have 3 fantastic sons and 3 grandsons and are a very close family one lesson we learnt is money really counts for nothing health and family should come first our health always took third place after family and possesions .
Having read numerous posts on LB where people are in all sorts of states over money please remember being in debt wont kill you it wont take your family in the end your life and well being comes first

[IanM]

Re: Mortgage shortfall

I'm sorry to hear that your wife has suffered ill health because of the way these companies operate and i know it is easier to just walk away and leave it all behind but me personally would want them to pay for all the losses and stress etc, they have caused.

Now that you have realized that money counts for nothing next to family and health you are in a much stronger position to take these people on than you have ever been and you can do it on the basis that if you win you win, if you lose you lose, but at least you tried everything possible to prove you did nothing wrong, without getting stressed out about it.

Are you really going to walk away and let these people win? They rely on people throwing in the towel before they discover that the lenders are in the wrong, legally, and can claim against them for their wrongdoing.

You need to go through every scrap of paperwork connected to the mortgages and the repossessions because the lenders and the solicitors acting for them have a way of manufacturing evidence to present to a judge to gain a possession order knowing most people will not question their figures in court so will lose their house due to not knowing what to do or how.

PPI, Mis-sold mortgages(were you given the best available interest rate when taking out the mortgage?), LIBOR rates,...coming out into the open years after happening, you have 6 years from the date you discover they did something wrong that caused you loss to make a claim against them so keep watching, more evidence is going to be revealed within the next 6-12 months that will help a lot of people get justice.

If you have no paperwork regarding the mortgage then ask the solicitor chasing you for a complete copy of your mortgage account from their client so you can clarify how this debt was incurred, they won't send it mind you but they will back off or delay for a while so they can check the mortgage account for themselves to find out if there are any discrepancies you can use to defend their claim, also send a SAR to the mortgage company for the mortgage files.

Question everything and keep digging, they hate it when people start to take a closer look at their mortgage accounts, especially the ones that have the LB site members to help and advise them!

[wales01man]

Re: Mortgage shortfall

I tend to agree with you Ianm but we have no fight left in us they havent won in our eyes we have to the tune of 110k between us although having the businesses and our own property and the ability to have kept paying at the time might have been good but that we will never know when it all blew up in 2008 i was so stressed i had all the usual stupid thoughts about how to get away from it but we got it together and pulled through mentally we are great just physically we are not great but we came out of it stronger

[IanM]

Re: Mortgage shortfall

I can appreciate your stance but to be honest, in the eyes of the mortgage company they have won and believe they can get away with anything, which they have proved by coming after you for the shortfall years later when you believed it was all over and disposed of all the paperwork.

The way you say you were so stressed you wanted to get away from it all is the way they want you to feel so you never look too closely at what they are doing, if you were as stressed at the time as you say then you would not have been thinking straight at the time and not defending yourselves the way you should or could have done and maybe now is the time to look at it again knowing you have nothing to lose. The truth is always worth striving for even if it is just for peace of mind.

If you decide you want to look into this further before you go bankrupt then let me know and i will help as much as possible, as will other members of this forum, of that i am sure!

I tend to agree with you Ianm but we have no fight left in us they havent won in our eyes we have to the tune of 110k between us although having the businesses and our own property and the ability to have kept paying at the time might have been good but that we will never know when it all blew up in 2008 i was so stressed i had all the usual stupid thoughts about how to get away from it but we got it together and pulled through mentally we are great just physically we are not great but we came out of it stronger

[Nikolai]

Re: Mortgage shortfall

I empathise with your position - same happened to me and my family mid-2008. Bankruptcy is no big deal but does enable you to stick 2 fingers up at any creditor or DCA who approaches you thereafter (there's always the odd one who doesn't get it!). We fought the repo to the end but still lost the house - so what, we think now, we're better off in a nice rented house with no mortgage hanging round our necks.
If you need any further help or encouragement, just post back here.

[IanM]

Re: Mortgage shortfall

Was this your reason for joining the legal profession?

I empathise with your position - same happened to me and my family mid-2008. Bankruptcy is no big deal but does enable you to stick 2 fingers up at any creditor or DCA who approaches you thereafter (there's always the odd one who doesn't get it!). We fought the repo to the end but still lost the house - so what, we think now, we're better off in a nice rented house with no mortgage hanging round our necks.
If you need any further help or encouragement, just post back here.

[Nikolai]

Re: Mortgage shortfall

No, I'd been in that job for years, but what it did was to make me realise what's important - as has been said that's health, family and good friends. It also got me thinking about what good could be done giving a little help to others who are going through the debt thing.