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| The independent answer to your debt problems | login join |
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sjwk
| 05-12-2011 07:33 PM |
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Joined: 05 Dec 2011 Posts: 2 | Hi, and thanks for reading... I hope you can help! I went bankrupt on 28th April 2009, and a private insolvency firm was allocated to manage my estate. I had no assets of any worth and was (and still am) in negative equity on my house so they never bothered to sell my house, and as of 28th April 2012, the interest in the property will revert to me. This morning, I received a letter from Halifax regarding the SVR cockup mentioned here: http://www.moneysavingexpert.com/news/mortgages/2011/02/halifax-to-repay-500-million-to-300000-mortgage-holders Brilliant news- they are paying me back £3800! When I rang the bank however, I was told that because the insolvency firm are still listed as the owners of the interest in the house, I cannot get paid this money directly back to me without written permission from them. Until then, they are technically able to write to my bank themselves and request it to be paid to them and there is nothing I can do to stop it. As the account is in my name, the IP doesnt know that this money exists yet (unless I tell them). If I were to instruct my bank to use this money to pay off some of my mortgage then it would move from being a credit on the account, to being part of the mortgage itself and they would therefore be unable to claim the money (although it might cause issues with whether the house is still negative equity). I could really do with the cash from this so if there is any chance of being able to get it paid back then I'd much rather do that - obviously I'm worried that by telling them then I wont end up with anything at all. The only other issue here is that the date that the rebate applies to is 1st Jan 2009, and the rebate is calculated as the additional interest I've paid between this date and now (although it is based on this figure, it is only a goodwill payment and the amount is arbitrary). I went bankrupt on 28th April 2009, so would I have an argument that I'm be entitled to the interest paid after this date? Or, as it a goodwill payment rather than a refund of interest paid will the amount apply to 1st Jan 2009, before my bankruptcy? What steps would the IP have to take in order to claim this money back from my bank, and are they legally entitled to it? What it all boils down to is - Should I tell the IP about the money, or should I tell the bank to add the money to my mortgage? |
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johonson121
| 07-12-2011 09:55 PM |
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Joined: 03 Nov 2011 Posts: 3 | Hope your good time comes back. |
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johonson121
| 21-12-2011 09:36 PM |
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Joined: 03 Nov 2011 Posts: 3 | What happen next u did not answer ? |
| DW George | 29-12-2011 03:49 PM |
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Joined: 01 May 2007 Posts: 1037 My Profile | Sorry to bring bad news to you but you should tell your IP about the windfall - your duty bound to! |
