Firstly the house they are in would need to be given up or reposessed and then the debt would become and unsecured debt and included in the BR.
Are they still paying the mortgage on their. Can they afford to pay the mortgage or are the payments very high now and they are struggling like we all are.
What are the amounts of there other debts or is that too personal. Do they want to stay in the house as sometimes things can be done to help with that. Do they have any othe assets like a car that needs protecting?
Sorry for all the questions but to tailor advice we need a little bit more info.
Thank you
Jo
Your Forum Moderator
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Once you have gathered a bit more information do come back to us either through this forum or on the free number.
Sometimes just talking can help sort things out and get them into perspective.
Tell your daughter not to be embarresed, i, as well all do on here know where she is coming from and to be honest for us all it has become a part of life and there is light at the end of the tunnel, she has started to get the ball rolling and over time she will feel much more relaxed and ready to do anything.
Bankruptcy if she chooses that route is not under the same stigma it used to be, its also not shamefull and we all know what its like.
You take care and let us know if you need us again.
Jo
Your Forum Moderator
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
what would happen with house after bankruptcy ?
Posted - 06 November 2008 : 21:12:41
