I have secured loan. the loan is not registared with the land registry! what do i do?
Thursday, February 18th, 2010 at
5:25 am
I have a ’secure loan’ but i went bankrupt last year and have since found out that the secure loan was not registered with the land registry! Do i still have to pay it? or can i take them to court? The loan company is still asking for the money.
Passive Income
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Tagged with: Land Registry • Loan Company • Money • secured loan
Filed under: secured loan
send a copy ofthe bankrupty order to the person asking for the money and they cant chase you anymore as you are deemed to not have any more money,
It depends if the loan company have a ‘letter of waiver’ filed with your mortgage lender. If they do then you have to pay.
It depends on the date the original date the loan was taken out. But if you go to court you would lose due to you having no defence, a debt is debt and you had the money. If you did not declare the loan when entering the bankruptcy you could be in further trouble with the courts. so contact the loan company and ask them to register the property and then come to a agreement with them
The official receiver or trustee who dealt with the bankruptcy.
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LOAN SCAM – Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.
If it isn’t secured then you have a lot more equity in your property than you believe and you may have to revisit that situation with the OR. Have you made plans to sell the house yet?
They should have been informed of your bankruptcy at the time of the petition and invited to either submit a claim or rely on their security. They should have been listed in your statement of affairs one way or another.
The land registry is a record keeper not a legal enforcement agency. You signed a contract (the loan agreement) which needs to be either honoured with payment or discharged through bankruptcy.
You really need to clarify this with the OR.