hubby owes the leaseholder (a company) money for ground rent and maintenance etc.does this get put down under secured debt with his mortgage debt or is it unsecured.i assumed it would be secured as the leaseholders can take the lease away on nonpayment but im probably wrong?
It does not really matter where this is listed - technially if he was to continue to trade it would be a priority debt as if he did not pay the lease he would risk losing the tenancy. But if on bankruptcy he is ceasing to trade (if he has not already done so) it does not really matter. You can list it after your mortgage on the secured creditors page or as an unsecured debt (i'd probably list on the secured page, but there is nor 'rule' here)
Hope this helps
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
secured or unsecured?
Posted - 27 February 2009 : 20:29:05
