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kaz
Starting Member



1 Posts

Posted - 10 November 2008 :  09:35:33  Show Profile  Visit kaz's Homepage  Reply with Quote
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 ?

go_4_broke
Junior Member

221 Posts

Posted - 10 November 2008 :  11:09:07  Show Profile  Reply with Quote
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'
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jwmc77
Junior Member



United Kingdom
195 Posts

Posted - 10 November 2008 :  20:05:58  Show Profile  Reply with Quote
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
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