Hi, i am new to the forum as me and my partner are thinking to go bankrupt but I would like some advice if anyone can help, that would be so much appreciate! The fact is that my partner bought our house five years ago (2007) for a prize that the house is not worth anymore! We are trying to sell the house as we have a few months old baby and we feel really isolated in this area ( and other reason but all related to the area where we live), but in 6 months we had no view and the estate agent suggested to put it on sale for nearly 40.000 pounds in negative equity. We realized that we will never going to sell the house for a prize that will even make equal. So we were considering Bankrupcty. We have been looking at the process and what it means..I am just worried that it will be a really stressful time plus how long does it take before m partner could get a mortgage again? Thanks
If you go bankrupt then your credit rating will be shot for six years from the date of the court hearing. Even after that you will need to build up a credit rating again and will probably need a hefty deposit if looking to buy a house.
Follow through Make your dreams come true Don't give up the fight You will be alright 'Cause there's no one like you in the universe
bankruptcy advice please
Posted - 28 July 2011 : 20:45:57
