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T O P I C R E V I E W
dannyandtracey
Posted - 23 June 2008 : 00:03:58 hi i am going bankrupt, our house is in negetaive equity will it still be sold?
1 L A T E S T R E P L I E S (Newest First)
melanie_giles
Posted - 23 June 2008 : 00:24:10 Hi there and welcome to the forum
That is unlikely. The OR will most likely invite you to find a friend or family member to acquire his interest in your property for a nominal sum of £1 plus the legal cost of effecting the transaction which are estimated at approximately £250. This effectively takes the property out of the bankruptcy, in the event that it were to increase in value over the next couple of years.
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
