I AM SELF EMPLOYED BUT WORK AND INCOME HAS DEMINISHED DRASTCALLY OVER THE LAST 4-5 MONTHS. I HAVE A BANK LOAN AND WONDERED WHAT WILL HAPPEN IF I HAVE TO FINALLY SIGN UNEMPLOYED?
it would entirely depend on the lender's policy. There are a number of routes the lender could choose ranging from temporarily accepting small token payments to placing a charge on your property or even commencing bankruptcy proceedings. It is therefore difficult to forecast which one they would take.
I AM SELF EMPLOYED BUT INCOME HAS DEMINISHED
Posted - 04 February 2009 : 21:18:01
