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gsum
Junior Member
171 Posts |
 Posted - 14 March 2007 : 13:59:11
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hi, thinking about going bankrupt, have debts of approx 42K, my husband has a new car on hpi which he uses as a cab driver and we currently have approx 16k equity in our home, we do have children and i am worried about getting the home taken from us and my husbands car as he would then not be able to work, can you tell me where we would stand with these things
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hellybelly
Junior Member
United Kingdom
202 Posts |
Posted - 14 March 2007 : 14:10:37
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Hi,
I'm no expert, just helping my partner down this path.
I wouldn't have thought they would take his car off him as its his income and if thats gone, then his crditors get nothing.
Have you looked into an IVA? |
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Debtdummy
Junior Member
United Kingdom
267 Posts |
Posted - 14 March 2007 : 14:31:46
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gsum, I agree with hellybelly. Look into an IVA first and see if you can afford that option. A bankruptcy is used as the financial method of last resort. Please seek professional financial advice. Contact, Payplan, CCCS and the CAB.
Good luck.
All I have left is my sense of humour. |
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thinking about going bankrupt
