Hi, please could someone advise me of what happens to my property in the following situation. I was declared bankrupt 2 years ago i own my house so an order was placed on it as it was in negative equity the OR said they would get back within 3 years to determine what was going to happen to the property ( i think they were going to see if the value improved ), if they revalue the house into positive equity do they have a time scale to sell the house whilst i am still living there or will they just repossess it? Thank you
Not sure although I think the OR can keep an interest in it for two years and three months but what happens after that I have no idea.
I am sure Viki will be along to advise further.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
If my house is revalued into positive equity does the OR have a time scale to repossess it ?
Posted - 21 February 2016 : 16:25:33
