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 having debts of £45k
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mrm
Starting Member



2 Posts

Posted - 16 October 2009 :  06:55:13  Show Profile  Visit mrm's Homepage  Reply with Quote
having debts of £45k plus and my house is in negative equity but up to date, if i go banktrupt can i keep my house

gettingoutofdebt
forum expert



2418 Posts

Posted - 16 October 2009 :  07:22:56  Show Profile  Reply with Quote
If the house is in negative equity then you can purchase the beneficial interest (BI) in the property for £1 + £211 fees. You would need to keep up to date with any mortgage repayments.

If you haven't already, you should look into a DMP or IVA (http://iva.co.uk/) before deciding whether BR is the right option for you.
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Melanie.n
forum expert



United Kingdom
1282 Posts

Posted - 16 October 2009 :  16:32:04  Show Profile  Reply with Quote
as 'getting out of debt' states it would be well worth your while speaking to an Insolvency practitioner (one that does not charge!) and have them go through your particular circumstances with you, it ewill only take around 45 minutes of your time, and at least you will then know whether or not bankruptcy is the best route for you.

Have a look on IVA.com read a few reveiws and make a selection, or if you wish contact me direct and i offer this service completely free with no pressure whatsoever, all i want is people to have free access to all the solutions which are available to them, up to you

Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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Reviva UK
Advanced Member

United Kingdom
2452 Posts

Posted - 16 October 2009 :  20:36:55  Show Profile  Reply with Quote
Hi

I would disagree with Melanie on this one.

Don't waste your time on IVA.co.uk, speak directly to Melanie. Her company has one of the best reputations in the insolvency industry and she will be able to quickly tell you if an IVA / DMP is right for you.

She is also one of the few IVA companies that will recommend bankruptcy if it is right for you.

Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com

Real People ..... Real Debt Solutions
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mrm
Starting Member



2 Posts

Posted - 17 October 2009 :  08:26:43  Show Profile  Visit mrm's Homepage  Reply with Quote
[quothanks paul I will be contacting Mel, cheerste]Originally posted by Reviva UK

Hi

I would disagree with Melanie on this one.

Don't waste your time on IVA.co.uk, speak directly to Melanie. Her company has one of the best reputations in the insolvency industry and she will be able to quickly tell you if an IVA / DMP is right for you.

She is also one of the few IVA companies that will recommend bankruptcy if it is right for you.

Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com

Real People ..... Real Debt Solutions
[/quote]

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