Going bankrupt at 23.. :(

dalip

If you tax code changes to nil(whole new topic)as the majority seem to your accounts debt may suspect but there are other reasons why a persons tax code changes to nil.D

DEBT_23

my 10,000 secured loan. can that not go under bankruptcy ??

Purplekylie22

DEBT_23 wrote: »

my 10,000 secured loan. can that not go under bankruptcy ??

Yes - it can, all of your debt can except court fees and student loans, CSA payments e.t.c.

But you would probabily loose your property depending on how much equity is in it.

G-G_4

What is your job?

I used to be a mortgage advisor and now can't be whilst bankrupt.. (not that I want to be anyway )

Hope you get it sorted.

They are 1000's of career out there, maybe this will help you pick a career that you will enjoy and in years to come you may even be gratefull of this chance to change your life..

DEBT_23

i work in the prison service. all HR wage stuff are dealt with in a different city. so my HR shuld be none the wiser !! or maybe im niave !!
i am reading up on BR at the mo on the internet and it says secured debt isnt written off !?!

as for equity in my property my mortgage is approx £75,688 the are 4 for sale in my street for £ 74,950 and not selling at that !!

G-G_4

Secured debts are included in bankruptcy. Someone else posted similiar to that on here a while ago, where did you see it?

Maybe you could ring HR and ask them, say you don't want to give your name incase it reflects badly on you and incase you decide that you won't go bankrupt. See what they say.

DEBT_23

I found it here..
http://www.debtadvicebureau.org.uk/bankruptcy/bankruptcy_pros_cons.html

G-G_4

Quote: "Certain debts cannot be written off: fines, maintenance/child support payments, other family court orders, debts to secured creditors, debts from personal injury claims, debts incurred through fraud, debt arising from certain other orders of the criminal court."

I think the above bit is the part that has made you wonder..

Can anyone explain it?

I am 100% certain secured debts are included in bankruptcy.. Gonna look pretty stupid now if someone says they are not :laugh:

frosty1970

I was always under the impression that a secured debt became an unsecured one in Bankruptcy & could be included without any hassle

DEBT_23

going to ring CCCS now with regards to bankruptcy. will they advise me when to move out my house, i also hav 2k of arrears im in a payment plan with mortgage co and i have a sespended repossesion.
never missed a mortgage payment til interest rates went up a few months back and my debt pilled up also.
do i start looking for rent and move as soon as or wait til they throw me out and risk missing out on a cheap house to rent nr me !?