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T O P I C R E V I E W
kaz
Posted - 10 November 2008 : 09:35:33 I have a secured loan and an IVA i also have a mortgage but no equity in my property if i go bankrupt will I still have to pay my secured loan ?
2 L A T E S T R E P L I E S (Newest First)
jwmc77
Posted - 10 November 2008 : 20:05:58 do you intend to keep the house? if yes, then you will still be expected to continue making payments to the loan and your mortgage.....im in exactly the same position (mortgage, secured loan, debt management plan and neg. equity)we decided to let the house go and start again from scratch (going br feb) but the mortgage and loan was still £850 p/m, ill be saving around £300 p/m just for moving to a rented property.
MAC
go_4_broke
Posted - 10 November 2008 : 11:09:07 Hi kaz
I think generally yes. Bankruptcy won't affect a mortgage or secured loan directly.
Best Regards
'Bankruptcy - an elephant from the front - a mouse from the back'
