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 I have 5000 pounds worth of equity in my house
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elaine.cy
Starting Member



1 Posts

Posted - 16 August 2010 :  17:23:36  Show Profile  Visit elaine.cy's Homepage  Reply with Quote
I have 5000 pounds worth of equity in my house and want to go bankrupt. Am I able to keep my house?

gettingoutofdebt
forum expert



2418 Posts

Posted - 16 August 2010 :  17:58:04  Show Profile  Reply with Quote
Did you get a 'quick sale' valuation from an Estate Agent to show you are £5k in equity? If not then chances are you may be slightly in negative equity.

£5k may not be worth the OR's while as they will go for a quick sale to release any equity on the property as soon as possible.
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Skippy
forum expert



United Kingdom
3290 Posts

Posted - 16 August 2010 :  18:08:11  Show Profile  Reply with Quote
Is the house solely in your name? If not you may find that you only own a percentage of the equity.

View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/

Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.

Last IPA payment made on 28th June 2010 - it's over at last!
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