i live in scotland and have lost my job and moved back in with my parents. i owned a property with my partner but cannot keep up the payments for mortgage and have no choice but to return the keys but i was wondering whethr to send back the house keys and wait for a sale to go thru so any shortfall is accounted for within the bankrutcy or does it not matter?? is it true that a trustee can take a home and sit on it for years if there is no equity in it?
also i have one car which is on hire purchase(3500.00 value) but only have 900.00 left to go on this which my father says i should let them pay it off because its my only asset and if i did sequestrate then at least there is something to go towards the creditors wht do you think this is wise??
im sure i read somewhere ur not allowed to pay creditors off willy nilly as u wish!!
can council tax gas and electric bills go into a bankruptcy??
i hope we are not thr only ones in this mess... any advice is appreciated
Sinking Ship!!
Posted - 10 February 2011 : 15:34:21
