I am declaring myself bankrupt and my court date is booked for a weeks time. I have been slowly preparing myself for the process ahead. My mortgaged property will of course be reposessed but does anybody know how long the process will take once I have been to court? I would also like to know if I should expect anybody to visit my propery to asses items I have of any value? The thought terrifies me!
bankruptcy in itself does not mean you will lose your home. If you are in negative equity and can afford the mortgage payments you could almost certainly keep it if you wish.
If you cannot afford the mortgage repayments then usually it would take 5 to 6 months or longer from the first missed mortgage payment before repossession is granted and an eviction notice served.
In any case if you have not been able to research you current position ib bankruptcy I would strongly advise you to call the 0800 helpline on this site for guidance.
Once bankrupt you will not have any visitors to your home unless on the forms you have disclosed any items of particularly high value.
Thankyou, I will definitely call Paul. Yes I am new to the site and didn't actually realise my queries would be listed as separate threads...! I am really appreciative of any advice I can get though. :-)
I am declaring myself bankrupt
Posted - 17 November 2008 : 11:44:56
