myself and my husband went bankrupt sept 2009 we have bothjust been discharged from bankrupcy. which is great but we would like to know we have done an income and expenditure form and we are paying out more than what is coming in. we have a house what is morgaged and as some equity on it about ten thousand we have no one to buy the interest on it we are paying over a thousand pound a month for the interest only morgage and secured loan which is killing us as we now have only every day jobs as before we had a business, should we still pay the morgage and secured loan or stop paying and let them reposses our house and try for council or private renting. will the solvency still be looking at our income and outcome now we have been discharged. if we stop paying morgage we will have to put money away for a deposit on renting also all our fixtures in the kitchen and bedroom are fitted so we would have to buy new. i hope you can answer our questions please as i am unsure what to do next thank you
Ultimately, if you can't afford an interest only mortgage you ma be better off looking to find somewhere cheaper to live or you will just get back into debt again.
myself and my husband went bankrupt sept 2009
Posted - 24 March 2010 : 10:33:06
