Hi, thanks for the reassurance Moolah. I've since gotten a very good accountant on the case so all looking promising, the hardest thing with this is just getting it started once you start to move it moves pretty quick. Don't know what the damage will be yet but at least it's being sorted I guess.
Brendan my details are as below :
Income details
Net monthly (i.e. after tax):2336 - Employee of a company
Income history: Have been lucky enough not to be out of work in years
Net monthly income partner/spouse: Not married
Income history:
Amount of child benefit received : No kids
Amount of Mortgage Interest Supplement received : N/A
Personal circumstances so we can calculate your reasonable living expenses
The Insolvency Service has published Guidelines for Reasonable Living Expenses based on the family size, whether or not you need a car for work, childcare costs and other exceptional circumstances. By filling in this information, we (or you ) can calculate what your reasonable monthly living expenses should be.
One adult family or two adult family : One adult family
Do you need a car for work or do you use public transport? Need a car for work (as part of the job)
Number of children 0- 2 years old: No Kids
Montly spend on special circumstances: e.g. exceptional healthcare costs : N/A
Home loan
Lender: Ulster Bank
Amount outstanding: 308,000
Value of home: 140000 as estimated from daft.ie
Interest rate: specify whether tracker or SVR or fixed rate : Tracker - (.75 above ecb)
Monthly repayment : 970
Amount in arrears: 27,000
Summary of discussions and agreements with the bank : Complicated but in brief mortgage payments were set to come out of ex's bank account, she stopped the direct debit about 2 years ago and for the most part paid in nothing. She had also changed the correspondance address on the mortgage account without my consent (not my signature on the change of address forms either, got a copy from the bank) so I was unaware there was a problem. Found out by chance when enquiring about something else that the arrears were there. Bank told me they were beginning reposession proceedings. Argued that I knew nothing of any issue and could we do something to repair things. didn't get anywhere with them (response was that it had gone too far so choice was either they take the house or we surrender it). Got new beginnings involved to help, working with them on voluntary surrender at present, will deal with the outstanding amount afterwards.
Credit Union
Amount of shares : 2500 approx
Amount of loan outstanding : 8000 approx
Monthly repayment : 500
Term left : Approx 1.5 years
Other loans and creditors - delete those which don't apply to you
None
Other savings and investments
None
Do you expect any lump sums in the medium term future?
Redundancy, inheritances, injuries awards.
No
How important is retaining the family home to you?
Which of the following best describes your situation?
I am not interested in retaining the house, it's not a home, it's a reminder and a constant tie to a painful time
Any other relevant information
What is your preferred realistic outcome?
I have moved on and started a new life with a new girlfriend etc. The house is in a completely unsuitable place for my work and it has too much of a history for me to every live in it again. I just want to be able to start again. Preferred outcome would be to let the bank have it, and come to some compromise on the outstanding debt.