All Forums  archive  Forum Questions  Hi,I was made bankrupt in August 2007.

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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 Martyn.jy[/i] [br]Hi, I was made bankrupt in August 2007. All un-secured debts have been cleared. I was discharged in 2008 and the Official Receiver still holds the interest in my property. I still and have always paid my mortgage and secured (Picture) loan. My problem is that I took the 2nd loan out in 2004 to try and solve my debt problems - it actrually made things a lot worse. I've struggled with meeting the payments since. I take home 2000 and yet pay out 1600 for the combined loans. My house is currenltly £50,000 in negative equity with approx 213000 owed. If I hand back the keys to Abbey (primary lender) I understand that they will sell the property to regain what's theirs and the shortfall will be picked up by the OR. It's unlikely that Picture will get anything or very little. Is this something that I could use to negotiate out of this Picture loan? I have a family that I don't want to upheave - I've worked my socks off to afford the payments to date but this extra loan that I agreed to in a bad mental state has almost worn me down completely. Hope you can help. Thank you. Martyn [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.