Bankruptcy and house

Bethankim

I can see where your coming from, but if you cleared your debts you could rent for a while stash the proceeds from your house in the bank, and follow the clear u your credit file you would rapidly improve your credit rating and be able to buy in the future with a good deposit.

the basic problem you have is that you have a really good profit from the sale and you dont meet the basic requirement of being insolvent. sorry that may not be what you want to hear.

I suppose its seeing things in a different way, and perhaps with some good financial advice you may find another way..have you sought advice from anywhere else?

hamptonman

Not yet but I will, dont want to run away from debts but need to find way of copeing till house move and new job!! If these come along then could easily pay something like 400 a month which im sure would help

hamptonman

Thanks everyone for help, have written to all creditors and most are freezing interest for min and allowing min payments, start new job in 2 weeks so should be in position to start paying back what i foolishly borrowed. reckon will take me 7 years but at least all will be paid and i will be stress free!!!