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 I am considering bankruptcy. I have a flat rented out under a secure tenancy agreement.
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Steven.mn
Starting Member



1 Posts

Posted - 18 October 2012 :  12:56:39  Show Profile  Visit Steven.mn's Homepage  Reply with Quote
I am considering declaring myself bankrupt but I have a flat which is rented out under a secure tenancy agreement. The value of the flat and what I owe on it are pretty much the same anyway but the tenants have a lease that runs until July 2013. How would bankruptcy affect this situation?

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 18 October 2012 :  14:25:59  Show Profile  Reply with Quote
Hi and welcome.

I've no idea on this one. Hopefully one of the experts can help.
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Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 19 October 2012 :  07:36:09  Show Profile  Reply with Quote
Hi Steven,

Is it jointly owned or solely owned?

The OR will take all the rent each month and won't leave you with anything to pay the mortgage with so this property will be at risk.

Please speak to an expert for advice.



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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