| T O P I C R E V I E W |
| adogillo |
Posted - 18 September 2010 : 12:22:00
I guess it's an obvious answer but what will happen it we go into BR and aren't able to carry on with paying the mortgage and secured loans?? |
| 4 L A T E S T R E P L I E S (Newest First) |
| Richard P |
Posted - 20 September 2010 : 11:08:06
Hi Adogillo
it is not done in quick time
the mortgage company could take 3 - 4 months of non payment by you to start the court process.
Then potential another 3 - 4 months to conculde the process which should give you ample time to look and find a place to live.
the best suggestion is for you to try and control the process, then you can be settled in your new place all possessions out of the old house.
that means now start looking and speaking to housing authority. Going BR is all about planning (and controlling the process) I took expert guidance who held my hand throgh the whole process
good luck Richard |
| RHB |
Posted - 18 September 2010 : 13:06:17
NO, your possessions should be yours to keep as long as they are household items & not worth thousands. |
| adogillo |
Posted - 18 September 2010 : 12:59:05
Thanks for that. What will happen to our possesions do baliffs turn up in a van and empty out the house? |
| RHB |
Posted - 18 September 2010 : 12:40:32
Your house will be repossessed BUT these loans then become unsecured & any shortfall will be written off in your bankrutcy |
