My husband and I are moving to the UK in October to file for bankruptcy. Neither of us are relishing the move but don't have an alternative option. Our bank is non compliant, not interested and seem to have no vision or plans to resolve the problem even though we have presented them with numerous resolutions.
We will have to give up our jobs to go to the UK were we have not been successful so far in obtaining employment. We believe we are going from the frying pan into the fire.
As one last move we are proposing to contact the bank directly asking them for a mortgage write down. We are not running from our responsibilities just basically asking them to rearrange our loan. We propose getting the property valued (we will pay for this) and writing the mortgage down to the current value. The negative equity could be put into a personal loan which we will service on a monthly basis.
Deep down we know they will refuse our proposal but all we can do is try once more before we leave this island for once and for all.
Would somebody be kind enough to offer us some pointers on how to approach the bank with such a proposal.
Thanks,
Ireland.1