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 bankruptcy postbag for july
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Moneystinks
Junior Member



174 Posts
Posted - 03 July 2008 :  19:59:20  Show Profile  Reply with Quote
If you have a loan secured on your property and file for BR what happens to the secured loan?


Marie

Reviva UK
Advanced Member

United Kingdom
2452 Posts
Posted - 03 July 2008 :  23:22:33  Show Profile  Reply with Quote
It stays secured on the house.

It only gets written off if the house is handed back and any shortfall not covered by the sale becomes unsecured and therefore covered by the Br.

Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com
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JulianDonnelly
Junior Member



United Kingdom
325 Posts
Posted - 04 July 2008 :  17:17:10  Show Profile  Visit JulianDonnelly's Homepage  Reply with Quote
Great advice once again Paul.

Regards

Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
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