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T O P I C R E V I E W
a.s
Posted - 11 January 2009 : 23:46:37 I need clear advice!!! I have no equity in my house no secured loans on it small 3 bed semi 3 children, all our debts are from a foiling business husband away working and only comes home every 2 weeks will they look apon this favourably? business loosing money but just plodding on till BR,
You need to review carefully each option and see how it effects you and your family. After all that is what is really important at the end of the day.
I know people would ideally like to repay all the debts but sometimes when you review it carefully it is not always possible. Sometimes you need to put your family first.
In Br you are likely to lose your assets ( NOT items in your home needed for everyday living) that the Official Receiver could sell.
You can retain a car up to around £2k in value if it is needed for work and provided that you can maintain the mortgage payments there is no reason why you cannot keep the house . The OR doesn't want the house just the equity. If there is no equity then it is likely to be safe.
are you still running the pub or have you surrendered it yet?
What is hubby doing now?
Paul Johns Assisted Bankruptcy Specialists Reviva UK
