What to tell mortgage lender?

brokebanker

What happens if you stop paying the mortgage but carry on paing other creditors???

silou

Craigos-I'm sorry your having such a tough time with them. I'm not sure but I would have thought that now you are BR they shouldn't be continuing to demand money from you-can anyone else clarify? Are you still living in the mortgaged property?
bb-I've stopped paying everyone as I intend to go BR in the not too distant future (hopefully) thats what I was advised so not sure what would happen if you carried on paying other creditors - again perhaps someone with more knowledge than me can help.

fiveyearplan

brokebanker wrote: »

What happens if you stop paying the mortgage but carry on paing other creditors???

If you're planning on going bankrupt then paying your creditors is just a waste of your money that you could be saving for living expenses. Also you could be seen as favouring one creditor over another which isn't good. Remember once you're br there is no credit to rely on if the washing machine breaks down, car needs repaired, dental pain etc. and there is always the BR fees to find too (not cheap I may add)!