I have debts amounting to appox £150k, my business went into administration last year and i am unable to pay my debts. I am conidering bankruptcy. I have 4 children under 7 with my co-habiting partner and we live in my home which has no equity in it. In the event i go bankrupt, would i automatically lose my home? As my partner works, i have been able to keep up to date with mortgage payments.
If your house is in negative equity then you can purchase it back from the OR for £1 + £211 fees so you shouldn't lose the home.
Before deciding anything you should get some professional advice either from the CCCS, CAB or National Debtline. You can also get advice from the following companies who post on this board and are highly respected. They offer free advice and will only charge if you want their assistance in completing the BR forms or even accompanying you to court on the day:
I have debts amounting to appox £150k
Posted - 20 July 2009 : 06:55:23
