Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By dieselc
#370513 we have just sent the keys to our property back to the mortgage lender with a letter of voluntary repossession. we didn't sign it or date it. i did sniff around the net to see what other people have written and read not to sign or date it. something to do with admitting debt. and be careful what we sign.
needless to say, the mortgage lender has been on the phone asking that the letter be signed and dated. they need our signatures to prove it is us...
we start our bankruptcy proceeding next week and im wondering if its best just to leave it to then and speak with cab about it.
thoughts appreciated. :?
User avatar
By TalbotWoods
#370583 Nope no need to sign it as they may well try to use it to say you have admitted that you will be responsible for the short fall.

However, if all they are looking for was a letter that says "here are the keys to xxx, which was subject to mortgage number xxx, I am about to go bankrupt and will be placing the mortgage and any shortfall into the bankruptcy. When I know the bankruptcy details I will inform you.

Yours"

No harm in signing that as it makes clear that the mortgage and shortfall will be going into the bankruptcy, and they cant then use that letter to say you accepted responsibility for the mortgage shortfall!


Tim