secured creditors?

thegoodlife

Hi I am not sure if I fill in this part of the br forms with the secured creditors,
http://www.ned-cab.org.uk/debtselfhelp/bankruptcy_628_14a.shtml


I am continuing to pay my mortgage and secured loan so hope fully we can keep the house, so surely these wont be included in my creditors, I also dont understand the form anyway lol
also thi

thegoodlife

I have just looked again I think I do put my mortgage and secured loan here but I dont understand the figures what is the A-B thing I dont know what to put , thanks

debtinfo

The A-B bit is to work out the equity or negative equity

ie first line - house worth £100,000, Mortgage £80000, equity £20,000
Second line - Remaining amount of house equity £20,000 (from above), secured loan £40,000, equity(negative) -£20,000

hope that is clear

thegoodlife

Okay I seem thick but I cant get my head around it,
this is what is on the form , the 113,000 is our morgage and the 62,000 is the secured loan ,house value 150,000

£ A £ B (a-b)£
amount owing - what of yours is claimed and present value - net amount owing
£113000 £150000(house value) -£37000
£62000 £150000 " -£88000



It is obviously wrong but not sure how ,I cant make it make sense, we are in around £25000 neg equity but not sure how this works lol

thegoodlife

ignore me lol my post hasnt come out right I will just put on what I think and hope for the best !

debtinfo

try this

amount owing - what of yours is claimed and present value - net amount owing
£113000 - £150000(house value) - £37000
£62000 - £37,000(amount left after mortgage) - -£25,000