Happy new year to all x If someone is buying the BI in my home does it have to be before my discharge date of 26th Feb 10 or have we got up to three years. My Husband and I are separated but both names are on the mortgage. We both went BR. The OR told me it would just be one fee ? Has anyone else bought the BI in the same situation. The equity is minus £15,000.
Hope someone can help
G x
There is light at the end of the tunnel, I can actually see it !!!!
The purchase of the beneficial interest depends on whether you wish to keep the property, or more importantly can afford to maintain the monthly payments. If you can, then you purchase for £1 each plus £211 costs. If you cannot afford to maintain the monthly payments going forward it would be better to not purchase the BI to cut your losses so that any shortfall is contained in the bankruptcy Please see my response to your other post
Melanie Nicholas 29 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Buying BI before discharge??
Posted - 05 January 2010 : 09:17:13
