This site is amazing, it has been so helpful - thanks all. I was made redundant in 2008. Have tried to keep paying mortgage and secured loan. But have run out of redundancy package and am earning much less than I used to. I want to go into Voluntary Bankruptcy but have not misssed a payment yet on either mortgage or secured loan. Shall I tell them what I am doing or go into a few months arrears and then go bankrupt? Just want to know which route would be the best. Thanks.
it normally takes 3 - 4 months for mortgage company or loan compnaies to start really chasing so that should give you time to prepare for BR, so i would not bother telling them at this stage or they might take control of the process.
at this early stages of considering BR take the time to speak to CAB and the experts to the left, they may have other options 1) to avoid the necessaty of bankruptcy 2) help pre plan the process.
I used Paul and his team at reviva and stgrongly recomend them to other people who find themselves in the same position as myself,
In bankruptcy you do not know what you do not know until it is too late and the OR is saying thank you as you hand over the cash.
I will totally agree with you this site is amazing with some fab people trying to share the benefit of their experiences.
Thanks Richard, I will do that, your advice is much appreciated.
The world stands aside for a man with a plan!
quote:Originally posted by Richard P
Hi Cash poor
it normally takes 3 - 4 months for mortgage company or loan compnaies to start really chasing so that should give you time to prepare for BR, so i would not bother telling them at this stage or they might take control of the process.
at this early stages of considering BR take the time to speak to CAB and the experts to the left, they may have other options 1) to avoid the necessaty of bankruptcy 2) help pre plan the process.
I used Paul and his team at reviva and stgrongly recomend them to other people who find themselves in the same position as myself,
In bankruptcy you do not know what you do not know until it is too late and the OR is saying thank you as you hand over the cash.
I will totally agree with you this site is amazing with some fab people trying to share the benefit of their experiences.
This site is amazing, it has been so helpful
Posted - 17 May 2010 : 15:33:28
