We have a Northern Rock mortgage 92k, with an unsecured loan of 29k, mortgage statement lumps together as total outstanding of 121k.This is paid as one monthly payment. If we did go bankrupt, would we put down o/s mortgage ammount as 92k, or 121k (121k was put down on IVA proposal despite the unsecured ammount forming part of IVA). This would effect wether or not property in negative equity, as worth approx 100k.
Can we indclude the unsecured part of the loan in our bankruptcy? Need to know, as will need to seperate payments, and continue to pay only secured part unit bankruptcy hearing.
Northern Rock
Posted - 27 February 2009 : 19:04:35
