hi my personal debt for cards is about 30000 and a secured loan for 25000.my mortgage is 240000 with house value of 270000 .im at a stage where nothing is getting paid off and feel that bankruptcy is my best option.im wondering would i lose our house as we have 2 children.any advice greatly received.thanks
As you only have around £5k in equity, and this could arguably be absorbed in costs of sale, the OR would probably offer the beneficial interest to a 3rd party for the nominal sum of £1 plus conveyancing costs of £211. This would enable you to remain in your home as long as you continued to pay the secured lenders.
wondering would i lose our house in bankruptcy?
Posted - 05 August 2008 : 08:48:50
