All Forums  archive  Forum Questions  firstly thank you to everyone for advice given

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by darrenp746[/i] [br]firstly thank you to everyone for advice given last year, i declared myself bankrupt oct'08 and would advise those worrying about it to do it, i feel like a huge weight off my shoulders. anyhow, now i have a further question. As you know im bankrupt and hope to be discharged on 21 oct this year. i am paying into a payment agreement for next 3yrs. i had approx £200k of loan and credit card debt. i had 13 mortgages, owning my own house and 12 buy to lets. i gave up my house as a voluntary repo as no equity,some of buy to lets have been or are near to be repossesed. my query is that 2 of the buy to let mortgage companies i used have not as yet repossesed the properties and are asking if i would like to continue with ownership of the properties and hence start making payents again (and they ll drop repo proceedings and agree to drop some of the arrears charges). the mortgages are on svr's which are very low, i could easily cover payments letting these 2 out , and although equity is marginal at moment i am attracted to keeping these 2 properties. are there any drawbacks in doing this, i realise rates may go up and i wont be able to move onto a new deal for some time and that any +ve income should be declared to trustees regarding payment agreement, but am more concerned about can anyone i owed money to before bankruptcy have any kind of claim on these assets if they were to regain +ve equity. or would these assets be safe from any pre-bankruptcy creditor, thanks darren p.s forgot to mention trustee has said they have filed a notice of disclaimer at court and have no interest in either property [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.