I am reviewing my finances at the moment as I can not afford my monthly outgoings. I am looking at an IVA but also considering the Bankruptcy option.
We own a home but have no equity in the property. What I don't really understand is would we deinately lose the house in BR or how would we buy back the beneficial interest in the property?
If your house is in negative equity then it is doubtful that you would lose it as long as you can continue to pay the mortgage. The OR will offer the beneficial interest to you, which costs £1 plus £211 costs and takes the house out of the equation.
I am reviewing my finances at the moment
Posted - 01 June 2009 : 16:40:20
