Hi, Weve got our bankruptcy hearing on 13/07/09 and need a little advice on something, we have a mortgage and a secured loan against it,we are currently on a mortgage holiday which is due to finish in July, would you advise us to try and keep paying the secured loan up until the court date?? I ask this because we were told that if we defaulted on the secured loan whilst on a mortgage holiday they could obviously start proceedings for there money??
Yes! The mortgage and secured loan will both have to be paid whether you are bankrupt or not. The only debts that can be written off in a bankruptcy are unsecured ones and any shortfall on the sale of your property.
Hi,Weve got our bankruptcy hearing on 13/07/09
Posted - 21 May 2009 : 11:30:55
