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T O P I C R E V I E W
stuart_w
Posted - 25 May 2008 : 11:03:42 If I declare myself bankrupt will I need to inform my boss? I manage a public house for him. I also have a pedigree dog and I am worried that she might be classed as a valuable asset? Thank you
3 L A T E S T R E P L I E S (Newest First)
JulianDonnelly
Posted - 28 May 2008 : 16:43:22 Hi Stuart and welcome to the forum.
Melanie is indeed correct that you can't be a licencee as an undischarged bankrupt.
Bankruptcy will only deal with the unsecured debt and not the homeowner loan. What are the valuations, redemption fees etc?
Posted - 28 May 2008 : 16:18:39 Hi Melanie, I feel that my debts are out of control now and I simply can't afford what they are asking. I have a home owner loan of £30000.00 but don't have much equity in my property and also have another £22000.00 unsecured. I looked into an IVA but the amount that they where asking will still leave me struggling and its worrying me sick to the point that I can't cope with it any more. I know that it is my fault that I got into this state but it was offered on a plate and I really didn't think of the consequences. I thought that I would be able to re mortgage my house to get rid of most of the home owner loan but its with Northern rock and they aren't interested with there current affairs and I have been told that I can't move my mortgage to another company because of the home owner loan that I have. Its all making me feel that my life is on hold and my marriage is struggling because of it. I can't think of any other way out of this mess.
melanie_giles
Posted - 25 May 2008 : 12:06:15 Hi stuart
Don't worry about your beloved pooch - she will definately not be taken and sold.
With regard to your job, it really depends what your contract of employment states. And if you are the licencee or designated person, then you may find that bankruptcy proceedigns prevent you from carrying out these functions.
Can I ask why you are considering bankruptcy over other debt solutions?
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
