| T O P I C R E V I E W |
| gav |
Posted - 15 March 2008 : 21:59:56
we are thinking our only and best option is to go bankrupt, and we know we will lose our home, we have been told our house could go for £87,000 this is also excluding a secured loan, of £20,000 would they try and get the most for it or will they just put any price and do we still have to pay the difference?
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| 8 L A T E S T R E P L I E S (Newest First) |
| Helpful Advice |
Posted - 17 March 2008 : 14:45:51
I have responded to this via another topic
View my Blogs at:
http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
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| Reviva UK |
Posted - 15 March 2008 : 22:37:19
Gav
if Br is the right option then we need to carefully plan out ehat will happen and when so you are back in total control of the situation and you will know EXACTLY when you will be debt free.
I am becoming famous for saying that we need to put the ducks in a row and that is exactly right. You need to be aware of what happens next at every stage and planning ahead is key.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| gav |
Posted - 15 March 2008 : 22:32:36
if you decide that br is our best solution what happens from there?
:(( |
| Reviva UK |
Posted - 15 March 2008 : 22:26:27
Gav
please pass on the above info so we can help with solution options - If you need it we can arrange a face to face meeting in NE without a problem or cost!
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| gav |
Posted - 15 March 2008 : 22:14:03
we are living in the north east |
| Reviva UK |
Posted - 15 March 2008 : 22:09:31
Sorry forgot to ask which part of the country are you in
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| Reviva UK |
Posted - 15 March 2008 : 22:07:26
Hi Gav
I will continue your thread from this post onwards. You need to get proper advice about Br and its consequences which is difficult from the snips of info we see here on the forum.
However it will help to see the following:
house value ( NOT optimistic just what an estate agent says it will get at sale)
Value of 1st mortgage
Value of 2nd Mortgage
redemption penalties on the above
any arrears
Level of unsecured debt
Car on finance
Disposable income each month
what jobs do you have
do you have children / how many
etc
This will give me a good picture to start helping you through the decision
thanks - I look forward to helping
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| Carl McMullen |
Posted - 15 March 2008 : 22:06:22
You say that its value is £87,000 and have a secured loan of £20,000 what is outstanding on your mortgage (first charge or is this the £20,000) ? |
