I am seriously considering bankruptcy and have a couple of questions if anyone can help. Some of my creditors are threatening bailiff action, if I tell them that I am going to declare myself bankrupt will they hold off this action?
Also, I have been living with a friend who owns their house for a couple of years, and as I have been in and out of work (I'm currently unemployed)I have just helped financially as and when I can but my name has never been on any bills. Will there be any risk to my friends house?
The creditors may speed up the bailiff action if they find out you are declaring BR as once you are BR they will get nothing.
The creditors may only be bluffing about the bailiffs as this is a tactic that they use to get people to pay.
There shouldn't be a problem with your friend's house. If you had been there for several yrs and making regular contributions to the mortgage, bills, etc. then you may be seen to have a beneficial interest in the house but it should be fine from what you have said.
Considering Bankruptcy
Posted - 11 September 2009 : 11:29:55
