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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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We are currently in dispute with HBOS regarding a mortgage

Resolved Question:

We are currently in dispute with HBOS regarding a mortgage that was mis-sold to us. The mortgage application had in the region of 20 lies created, by the Area Mortgage Manager, without our knowledge, input or approval. It is currently being investigated by the police however there are no guarantees that the case will get to court.
The house was repossessed last year and sold at >50% of what we paid for it (ignoring the £100k that we spent on making it habitable). Consequently we have approximately £120k negative equity that we, in theory, should pay back.
There are only 2 outcomes that we can envisage, either the bank settles with us and provides restitution and compensation or we are declared bankrupt. We think that the only way that we can get the bank to settle is to try and get the matter to court (the judge, at first repossession hearing, wanted to refer the matter to trial)
What is the process for declaring ourselves bankrupt?
Can the judge who assesses the application for bankruptcy force the matter to trial?
www.sornbeg.com
Regards,
Margaret
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts : Hello Margaret my name is ***** ***** I will help you with this.
Alex Watts : For now please let me know whether you have been to the ombudsman?
Customer:

Been to the ombudsman about a couple of specific complaints - the fraudulent misrepresentation/mis-selling complaint was out of time. The inclusion of the HLC after the contract was signed was ruled against us because the ombudsman felt it was fair to say that knowing that it was going to be applied wouldnt have influenced our decision to go ahead with the mortgage. Just uploading a complaint about the deliberate withholding of information from 2 DSAR requests

Alex Watts : You can just declare yourself bankrupt.
Alex Watts : You go to the county court, fill out some forms, pay the court fee. You may or may not go before a judge
Alex Watts : That is it
Alex Watts : The official receiver is then in touch and you declare what you owe.
Alex Watts : After 12 months it's written off and you are discharged
Alex Watts : Extra information for free. Please see the link below for more information
Alex Watts : https://www.gov.uk/bankruptcy/overview
Alex Watts : Can I clarify anything for you about this today please?
Customer:

What are the criteria for it being heard by a judge?

Customer:

The actual process is straightforward but given that we are victims of fraud and that is what is putting us in this position we need to find a way

Customer:

A way to get this to trial

Alex Watts :

The criteria is just you need to prove that you owe more than £750

Alex Watts :

So as long as you owe more than £750 you can go bankrupt

Alex Watts :

Does that clarify?

Alex Watts :

Sadly I think if the Ombudsman has found against you, you may be stuck

Customer:

The financial ombudsmen hasn't ruled against us on the matter of fraud - that complaint was out of time.

Customer:

Unfortunately you haven't really answered the question. You have started the criteria for being declared bankrupt and not explained how to make sure that it gets seen by a judge. I think that this is possibly too complex to discuss in this manner.

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