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Topic starter
25/09/2013 5:53 pm
Hi.
Its been a while since I've been on here, so hi to everyone and hope all are well.
I signed up for my PTD on 14th February this year. All going well so far. It gained protected status and I've been managing OK with the finances since.
In May this year I moved house. I was the homeowner but I had to move due to work relocation. I ended up voluntarily surrendering the property back to my mortgage company. At the same time as moving out of the property, I switched off the gas and electric supply.
Today I received a phone call from my energy supplier at my old house. They are looking for me to pay around 700 pounds, which they say is the balance remaining on the elec and gas accounts. I explained I am in a PTD, but they said they already knew, however the outstanding monies they are looking for are FROM 14th Feb onwards, almost all of the monies due are in relation to fees that have been applied to the account since I moved out in May. Apparently I never closed the account down properly.
So I'm wondering where I stand with this "debt". Do I need to pay it? If so, how do I do that given my limited budget?
Also. Its got me wondering about the voluntary surrender of my property. The mortgage company took possession last week. I am waiting to find out when it will be up for auction. Thereafter, given there is no equity in the property, I will wait to find out what balance remains due on my mortgage account. My question is : I am led to believe that any outstanding money due on the account in relation to the property sale shortfall will fall into the PTD pot. However, will the Fees that my mortgage company will no doubt apply to the account in relation to the repossession and subsequent auction of the property also fall into the PTD?
similarly I have a Secured Loan and they have contacted me in relation to the outstanding amount due to them, of which around 1000 pounds is in relation to fees incurred since 14th Feb in their efforts to collect outstanding monies on the account. Are these fees due to be paid by me too or do they fall into the PTD?
I'm getting all worried now because I thought things were under control. I have a fixed budget and for once in my life I am managing. Not taking credit and living within my means. and now all this. help please.
Thanks.
xxx
25/09/2013 6:02 pm
Hi Thinkingofthefuture.
My understanding is that the fees relating to your mortgage and secured loan will fall into the shortfalls that result from the sale (assuming that there are shortfalls).
In terms of the energy bills I guess you'll first need to assess whether this money is truly due to the supplier under the terms of your agreement with them.
If it is you'll then need to assess whether the money owed (or how much of the money owed) relates to services or charges applicable to the period after you signed your trust deed. I'd assume that you'd be responsible for paying this amount if you accept that the bill is owed by you.
Given that you're in a trust deed I'd assume the energy supplier would consider a repayment plan, possibly with a very low payment until the trust deed ends. You may also wish to speak to your trustee to see if they can help at all, perhaps by way of a payment break (which would be made up at the end perhaps) to deal with this problem.
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26/09/2013 10:24 am
The costs associated with the repossession will be included in the trust deed. They are not a new debt as such, but relate to a credit agreement signed before the date of the trust deed.
Energy bills are slightly different, as a bill for energy used after the date of signing the trust deed is post-trust deed debt. I couldn't comment on whether the bill is justified or not in the circumstances, but if they can back it up then I'm afraid you are likely to have to come to an arrangement with them to repay it.
Best speak to your trustee first to ensure that they know what is happening and can agree on how to allow for it from your budget.
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