I am seriously considering Bankruptcy. I, along with my partner have been pursued for mortgage shortfall since 1992. Foolishly (on bad advice) we were paying around £10 up until about 3 years ago when we started to question it. Sarned and started digging and also stopped payments. During the last 3 years we have repeatedly asked for documentation but really got nowhere. Our last letter to Eversheds was unanswered but we know that the letters will start again demanding payment with our previous correspondence ignored - and again we will keep on asking questions.

I am now considering bankruptcy but my partner is not and am concerned that, when I list this shortfall as a debt, I will be acknowledging it and will impact on my partners ability to dispute it. I also fear that I would be restarting the clock.

I wonder if anyone here has been in a situation and welcome any suggestions/advice.

thanks

-- (Joanne221@hotmail.com), November 03, 2004

Answers

Joanne. I was in a similar situation to you not long ago and simply stonewalled the lender who sent letter after letter and I simply kept asking for the information suggested on this site. They would not/could not give give. At the same time they threatened me with bankruptcy and other court proceedings on 15 seperate occasions to which I responded "so be it", I will see you in court and ensure the court is aware of your default in not supplying the relevant information which would beordered upon disclosure anyway. They still did nothing.

The down side is that you cannot improve your lot (better job buy a another property etc) until the matter is concluded. So I took advice from a chap called Simon wiggins at www.debtquestions.co.uk, who is a professioanl debt adviser. His advice has been invaluable, but it is very dependent upon your circumstances.

I would strongly recommend you post a question on the site I have recommended if you if you are considering bankruptcy. His advice has literally kick started my life again.

Good luck.

-- James Campbell (jascampbell@hotmail.com), November 13, 2004.