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 can someone please explain in simple terms
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luckyone
Starting Member



United Kingdom
35 Posts

Posted - 26 July 2009 :  20:46:27  Show Profile  Reply with Quote
Hi again can someone please explain in simple terms what this thing is to secure your home by paying £211 and £1 each court date in september dont want to lose the house. Any help much appreciaited

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 26 July 2009 :  21:58:01  Show Profile  Reply with Quote
Hi,

You, or a third party, buy the beneficial interest in your house for £1 plus the court fees. This is normally when the house is in negative equity.

By doing that it means that the house is taken out of the bankruptcy and the OR won't touch it.


The glimmer gets brighter all the time

Jan
xx
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