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emdaz
New Member
71 Posts |
 Posted - 14 May 2009 : 22:59:45
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OK, me and the missus have finally decided that we're gonna do it, only thing that concerns me is that my debt isn't too bad if you take away the mortgage. Just the fact I can't afford mortgage and house is about 30k in negative equity. Can I list this as a debt.
Just started doing forms online,
SCARY!!!! |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 15 May 2009 : 07:53:44
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Just make sure you list the mortgage on the secured creditor page and also ont he unsecured creditor page (where you list the credit cards) for £1 - that way if worst came to the worst and you were forced to give up your home any shortfall would be inculded in the bankruptcy. Congratulations on makin g the hard decision to move forward with the bankruptcy, you may not believe it right now, but it will probably be the best decision you will make
Good luck, and if you need any help let me know
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 15 May 2009 : 08:03:36
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Don't worry, it's not that scary once things get started.
You need to include all debts in the BR including the mortgage and you are able to declare BR if your outgoings (creditor payments, housekeeping, etc.) are more than your income. |
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emdaz
New Member
71 Posts |
Posted - 15 May 2009 : 09:10:36
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Thanks for the advice guys,
OK, we decided we don't want to keep the house. We paid far too much for it and now mortgage ridiculous considering we can rent a similar house for half the price.
How do I add the shortfall as a debt.
Also if I was to use a company like yours melanie to help how much would it cost and how would I pay??
Thanks. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 15 May 2009 : 09:31:56
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Drop Melanie an email and I'm sure she will contact you with the details.
As far as I am aware you just add the mortgage details as a creditor on the 6.28 form but Melanie will be able to confirm this. |
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Finally Decided!
