Statement of affairs form - house

wilcoskip

Hi,

sorry for asking what may be an obvious answer - I just want to get this right.

I need to declare my house on my bankruptcy form. On the assets & property sections, under value, do I declare the estimated sale value, or the net value minus the outstanding mortgage?

Also, the equity is low and I hope to get some family to buy out the interest in the property. Hence I don't want my mortgage included in the bankruptcy. Do I therefore not include it in the creditors section?

At the end of the day all I want is to show the actual equity value of my house in the form - how do I do this?

Many thanks for your time and help,

WS

peachyprice

You put the actual value of the house. There should be a separate part for secured crediors where you put details of the mortgage.

The mortgage won't be included in your BR at all.