Hi, help needed for a newbie please

vem2b

Hi,

I have been a lurker on these forums for a while and have found them invaluable for me, so thanks everyone!
4 weeks ago I finally admitted to myself and to my partner the financial mess I am in and booked an appointment with CCCS, which is tomorrow. In the meantime I have been lucky enough to get some advice from someone who used to work in insolvency from another forum of which I am a member. Once she knew my full situation she felt the best option for me would be bankruptcy as, although I own my own property there is not much equity in it and I do not have any other assets.
My question to you guys is to do with my property. I plan to surrender my flat to the trustees as me and my partner plan to rent for a while and it seems like the best option. I have been told this is possible or that I could stop paying the mortgage and surrender the property back to the mortgage company. If I was to go down one of these options do you know how quickly I would be expected to move out of my place? I have no sentimentality to here and have sorted rental accommodation, but it may not be available for a few months yet. Have any of you had any experience in this, and if so, what happened?

Hope that makes sense! Thanks in advance for any advice.

V xx

debt_doctor

Hi,

If your sure Br is right for you then I would stop paying the mortgage and use that money to set up your new flat when it is ready. You will have at least 3 months before they go to court then the system if you play it could give you another 3 months at least.

When you have set up home then go BR, any mort shortfall will be in your BR.

Make sure BR is right for you, possibly take some more advce.

DD