we are thinking our only and best option is to go bankrupt, and we know we will lose our home, we have been told our house could go for £87,000 this is also excluding a secured loan, of £20,000 would they try and get the most for it or will they just put any price and do we still have to pay the difference?
I will continue your thread from this post onwards. You need to get proper advice about Br and its consequences which is difficult from the snips of info we see here on the forum.
However it will help to see the following:
house value ( NOT optimistic just what an estate agent says it will get at sale) Value of 1st mortgage Value of 2nd Mortgage redemption penalties on the above any arrears Level of unsecured debt Car on finance Disposable income each month what jobs do you have do you have children / how many etc
This will give me a good picture to start helping you through the decision
thanks - I look forward to helping
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
please pass on the above info so we can help with solution options - If you need it we can arrange a face to face meeting in NE without a problem or cost!
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
if Br is the right option then we need to carefully plan out ehat will happen and when so you are back in total control of the situation and you will know EXACTLY when you will be debt free.
I am becoming famous for saying that we need to put the ducks in a row and that is exactly right. You need to be aware of what happens next at every stage and planning ahead is key.
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
our home
Posted - 15 March 2008 : 21:59:56
