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T O P I C R E V I E W
Jay76
Posted - 15 July 2009 : 14:17:05 Hi Am I right in thinking that if we are in negative equity we WILL NOT be made to sell?? Will the OR have the house revalued before we are discharged?? Julie
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gettingoutofdebt
Posted - 15 July 2009 : 14:26:00 The property would only be sold to release equity. If it is in negative equity then you can buy back the interest for £1 + £211 fees.
The OR will look at the values of similar properties in the area as a rough guide to the value and if it is close to having equity then will probably have a valuation done. The property side of bankruptcy takes several months anyway so there should only be one valuation within the 12 month period that you are BR.
