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Repossession/ Bankruptcy - Will the latter help or hinder the former?

from John Watters (john.watters@btinternet.com)
My mortgage lender are planning to repossess my house in about ten days time (at least, that's when I'm due to appear in court). I'm in arrears due to redundancy 12 months ago, followed by family illnesses. Because of my freelance/self-employed status I've been unable to get help with the mortgage. Because of all this (there's more, but I'm trying to keep it brief!!)I also find myself in the position where I will have to go bankrupt due to other massive debts. My house only has equity of around #8k, my debts exceed #40k, including around #5k mortgage arrears. Will it help me to go Bankrupt before the court case? Will it hinder my case? Or will it make no difference?

On another point, I've explained to the Building Society that both my wife and daughter are in very bad health. Despite this, they've continued to demand money that they know I don't have! Here's an example of how they work: I briefly moved abroad to work so that I could send money home - Before going away I asked the building society NOT to contact my wife whilst I was away as she was in very poor health. They phoned not once, but *twice* - this resulted in her being admitted to hospital. Will a judge be more sympathetic to my plight than my mortgage lender? If not, I intend to ask the lender if I can sell the property to get a better price (I've read some of the horror stories on your site and would hate to have them chasing me for money years from now!!) What would you think my chances are of getting a repossession order suspended?

Sorry for the lengthy question!

(posted 8708 days ago)

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