Bankruptcy help

steve.xxxxxx

Due to a serious illness, been out of work for seven months. Managed to pay most monthly debts but now looks like its going to be long term.
May get help with the mortgage which is up to max as property prices have fallen ie worth 150k owe 150k also have a secured loan for 10k. will both companies reposess in event of bankruptcy?
Any advice would be greatfully recieved........

DON79

hi Steve, best to get advice from either National Debtline, Cab or CCCS but they are very busy just now so it may take some time to get through.

if you can maintain the monthly mortgage and secured loan payments, then you will not be repossessed. it would take probably about six months for a repo order to go through if it did come to that.

Once you have got professional advice and if they advise that BR is the best route for you, come back and ask any questions but also read as much as you can on here and you will find lots of answers too

Hope this helps.

Donna

steve.xxxxxx

Thanks Donna, got appt with CAB in 2 weeks

DON79

CAB is a good place to start, you could always do the online cccs debt remedy to see what that does suggest for you too.

Donna