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 I am considering bankruptcy as I'm about to lose my house
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Genesis
Starting Member

United Kingdom
2 Posts

Posted - 19 May 2012 :  00:01:42  Show Profile  Reply with Quote
I am considering bankruptcy as I'm about to loose my house and in debt to the tune of £20,000. My question is I am eligible for early retirement next year which I can take a lump sum payment of £24,500.What I would like to know is if I go through with the bankruptcy will they expect me to pay £24,500 off the debt? If this would be expected I would not consider early retirement. Any information on this dilemma would be appreciated.

Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 19 May 2012 :  09:34:12  Show Profile  Reply with Quote
Hi Genesis,

Your lump sum would be at risk.

I suggest you speak to an expert for advice asap.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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Genesis
Starting Member

United Kingdom
2 Posts

Posted - 20 May 2012 :  08:54:47  Show Profile  Reply with Quote
quote:
Originally posted by Viki.W

Hi Genesis,

Your lump sum would be at risk.

I suggest you speak to an expert for advice asap.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp

Thank You Viki for your reply.When you say my lump sum is at risk do you mean I WILL loose it or there is a way of saving it by consulting an expert? Regards.Willy.
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Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 20 May 2012 :  09:25:46  Show Profile  Reply with Quote
Sorry, I meant, I suggest you speak to an expert for debt advice regarding your whole situation to see what options are available.

You will lose it if you take it whilst bankrupt.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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