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 would we still be able to keep the property?

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T O P I C    R E V I E W
glenonline Posted - 02 October 2008 : 16:29:33
hi, sorry but this is my first and long winded question, my wife and i are considering

bankruptcy, we have a mortgage but have negative equity in it, but we have a second

mortgage for a sum of 10,000 with kensington, and i believe water rates debts have been

charged on the property also,and possibly one of my wifes credit cards (i know the words

burying, head and sand apply) would we still be able to keep the property as i assume these

debts would not be taken by bankruptcy? also if i could repay the first charge but not the

others what would happen there?? am i better to just start again now and give up our home??

finally - if i go bankrupt and the negative eqiuity is written off how come the other

charges cant be instead giving you the chance to at least save your house and honour the

main debt??

kind regards glen..............

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