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julie08
Junior Member
United Kingdom
178 Posts |
 Posted - 02 June 2008 : 22:11:47
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| i was made bankrupt , i have been speaking to the trustee as they have interest in our home even though im the only 1 bankrupt, my name is joint owner along with my husband , we had house valued at 100 thousand and the trustee is wanting my half of the equity which is 15,000 they have come to an agreement that my husband pays 8 grand up front and 200 per month for 35 months , this is an impossible amount to pay as we have mortgage , debts etc to pay each month , the trustee has sent a form of agreemen for myself and hubby to sign to say we agree to the terms, i agreed to it in an email because it was going to court for sale and reposession , if we get in touch with truste and explain 8 grand is too much to shell out we just dont have that kind of money will they change their minds on the offer and go ahead with the court case |< i am worried sick |
Edited by - julie08 on 02 June 2008 22:27:08 |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 03 June 2008 : 11:48:37
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Hi Julie08 and welcome to the forum.
Given there seems to be only £30k of equity, a forced sale in the current climate is likely to only achieve 75% of the market value (more commonly known as the Red Book Value). In this instance, I would advise speaking with the Trustee and making your concerns known as it is in everyone's interest here to achieve an amicable solution.
Hope this helps!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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will we lose our home?
