have just been made bankrupt debts off 20,000 i think there is about 5,000 oo less equity in the house can they take my house . what about my mortage with g e money arears off 2,000 but currently in agreament paying back every month what happens .help
Did you take any advice first or did a creditor petition for your bankruptcy?
I would suggest that you get a mortgage redemption statement today, and also arrange for an estate agent to give you a valuation for a Quick Sale. You don;t need to give them a reason for the sale just advise them that you are looking to sell quickly.
This will give you the equity position. It may actually be less than you think in this current market.
Also until you know what is happening with the house there is no benefit to you in overpaying the mortgage arrears. All you are doing is potentially putting more equity in the house.
Check those figures out and we can help more then
Paul Johns Bankruptcy Specialists Reviva UK www.revivauk.com 08454 751 851
have just been made bankrupt
Posted - 03 October 2010 : 21:27:57
