Hi All, I have just been to see CAB who advised because we have less income coming in than our expenditure to stop paying our mortgage and secured debt and to write to them advising of this,the CAB said they will eventually serve a repossion order and we will have to go to court.I asked if bankruptcy would be an option but they advised as a very last resort.Can any one advise please as i just seem to be going round in circles.
firstly welcome to the forum what is the level of your debt? BR is an option if your Disposable Income DI is low as an IVA would be unobtainable. is your property in negative equity if it is BR would clear this and any other debts BR is not for everyone but it does have advantages and needs to be considered
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!
Hi All,I have just been to see CAB
Posted - 12 May 2009 : 16:23:12
