| T O P I C R E V I E W |
| fkeith |
Posted - 06 July 2009 : 22:03:26
is it possible to get a loan on the equity of my house to pay off my debts after being declared bankrupt? |
| 4 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 07 July 2009 : 10:42:28
I think that you probably made a mistake by using someone to sort your problems out, as they clearly have not done so.
If you were declared bankrupt in 2007, then all your debts would have been written off and you would not have owed anyhing. You would also be discharged by now. Did you receive anything in writing to say you were bankrupt and did you have an interview with the Official Receiver.
If you still owe this money, then I'm afraid if you do go bankrupt again you will almost certainly lose your house.
The glimmer gets brighter all the time
Jan
xx |
| fkeith |
Posted - 07 July 2009 : 10:08:45
council took me to court for none payment of council tax i owed @ £2000 on top of that i owed @ £15000 to credit cards etc.it was agreed at the citizens advice for me to cash my pension in (£2500)and pay the outstanding debt the man dealing with my case even rang the council solicitor to say if this was done they would not carry on with the bankruptcy to which they said they would not.
due in court on the 23rd jan.2007 paid cheque to council @18th for some reason running around like a headless chicken trying to find more income i had it in my head i was due in court on the 28th when i turned up they explained it had already been dealt with i assumed the council solicitor would have checked and that was it.
a week later i got a phone call to tell me i had been declared bankrupt.my earnings have been steadily decling as the type of work i am involved in has shifted abroad.i paid £500 to a go between to sort my problem but all i got from that was a woman ringing about a remortgage to which my earnings where insuficient to do that. the next thing i know it has gone to the next stage and now i am owing@£42000 what can i do? my wife and i owe a small amount on the mortgage and own it jointly.my equity in the house would be around £45000 is that why they suddenly hit me with the £42000 debt now?
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| Viki.W |
Posted - 06 July 2009 : 23:03:24
Hi fkeith,
Welcome to the forum.
If you have enough equity in your house (your share if it's jointly owned) to clear your debts then you are not insolvent and shouldn't declare bankruptcy. Is a creditor trying to make you bankrupt?
Can you tell us a little bit more about your situation so we can try and help. |
| debtinfo |
Posted - 06 July 2009 : 22:45:05
You do not have control of your assets whilst in bankruptcy. If the house is co-owned and the second owner is not bankrupt it may be possible to raise equity |
