I have been advised by a representative of Melanie Giles that my only option out of my current financial situation is to declare myself bankrupt. My main concern regarding this is that i have a joint mortgage on a property with my wife and we are concerned about losing the house. The house is currently in negative equity to the sum of approx £14,000 so i cant release any money from the house to pay my creditors. What will happen to our home?
If your house is in negative equity there should be no problem with you keeping it. You will just have to buy the beneficial interest which will cost £1 plus £211 costs and the house will be taken out of the bankruptcy.
Obviously you will have to continue make your mortgage payments plus payments to any other secured loan on it.
What will happen to our home?
Posted - 05 June 2009 : 11:03:03
