| T O P I C R E V I E W |
| molly81 |
Posted - 10 February 2011 : 15:34:21
Hi Guys n Girls,
i live in scotland and have lost my job and moved back in with my parents.
i owned a property with my partner but cannot keep up the payments for mortgage and have no choice but to return the keys but i was wondering whethr to send back the house keys and wait for a sale to go thru so any shortfall is accounted for within the bankrutcy or does it not matter?? is it true that a trustee can take a home and sit on it for years if there is no equity in it?
also i have one car which is on hire purchase(3500.00 value) but only have 900.00 left to go on this which my father says i should let them pay it off because its my only asset and if i did sequestrate then at least there is something to go towards the creditors wht do you think this is wise??
im sure i read somewhere ur not allowed to pay creditors off willy nilly as u wish!!
can council tax gas and electric bills go into a bankruptcy??
i hope we are not thr only ones in this mess... any advice is appreciated |
| 3 L A T E S T R E P L I E S (Newest First) |
| Richard P |
Posted - 10 February 2011 : 16:02:04
Hi molly
I am not too certain of things north of the border
when did you move back with parents and was your previous address south of border ?
may be appropriate to sell the car to pay for BR fees and buy something worth about 2K
Richard |
| Niobe |
Posted - 10 February 2011 : 15:59:19
Hi and welcome.
I'm not sure how things work in Scotland as they are different to here.
You won't be allowed to favour one creditor over another however.
You may have to get rid of that car and get a cheaper one as it is normally only up to about £2k that you are allowed.
One of the experts will be along to help. |
| Niobe |
Posted - 10 February 2011 : 15:58:55
Hi and welcome.
I'm not sure how things work in Scotland as they are different to here.
You won't be allowed to favour one creditor over another however.
You may have to get rid of that car and get a cheaper one as it is normally only up to about £2k that you are allowed.
One of the experts will be along to help. |
