Hello, My husband and I have both been bankrupt me Jan 2009 hub dec 2009. we managed to keep the house but we are now worried as it is in negative equity up to £100,000. We are worried about interest rises and we can not sell. I have asked the lender to allow us to sell off the land and reduce the debt but they refuse. the only solution I can see is if we go bankrupt again we are both discharged but my husband is paying £50 per month for another 18 months what do you suggest. We have done every thing we can think off.
I would imagine the shortfall would be covered by your initial bankruptcy unless you have taken out further borrowing? If you go bankrupt again so soon, you may face a BRO.
As RHB has posted, if you have not taken out a new mortgage deal after your bankruptcy, then you can have your house repossessed and any shortfall will be covered by your original bankruptcy.
Hello, My husband and I have both been bankrupt
Posted - 24 January 2012 : 18:01:29
