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T O P I C R E V I E W
kathleen1
Posted - 14 December 2008 : 20:23:59 Hi, I have debt of around £40,000 I have entered in the deatils for iva & have been told I dont qualify as i dont have enough desposable income, i live in a shared ownership property 50% rent & 50% mortgage, if i go bankrupt what happens to my home
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 14 December 2008 : 22:38:05 Hi Kathleen1
and welcome to the forum
there are two aspects here that are important.
1. who owns the other half of the shared ownership
2. what is the value of the house, and what is your share.
The Official Receiver is not interested in your house but if there is equity in your share of the house then he would be interested in that.
Paul Johns Assisted Bankruptcy Specialists Reviva UK