bankrucpy info

robsimps53

hi everyone, ive just got one quetion i need answered. Im going down the bankrupcy route and i have a mortgage, from what i gatherd theres a high possibilty that i will not get it taken from me as i have no equity. what i need to know is as im not working at all at the moment and have no income, my mortgage is up to date though as my partner helps to pay it

Will the OR look at this as 'i cant pay for the house with no income' and consider therefore take it from me
or will they not care as it is getting paid and it is all up to date

thanks

looking forward to your replys

peachyprice

They won't care how the mortgage is being paid. It really makes no difference to the OR if there is no equity to take. You have to live somewhere, so if you weren't paying your mortgage you would be paying rent.

robsimps53

thanks

i know that the OR may offer to sell to BI back to me, just werent sure weather or not they would see that i had no income and consider taking it from me anyway

but thanks again for clearing that up for me

jacksville_2

Hi

My partner pays the mortgage and the OR did not ask any questions, I was offered the BI for £1 as the house is just in neg equity and that was it - so you should be fine...

robsimps53

thanks for that, it's nice to hear it from someone in the same situation