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Future Neg Equity
script
Posts: 718 Forumite
I think this might be a bit of a “dense” question – because I’m sure the answer is yes.
But I would be so grateful if you could confirm the answer.
Lets say you go B/R today 12 8 09, with an automatic discharge on 12 8 2010.
You currently live in a house, it’s up for sale (or will be repo’ed) with negative equity of £27,000.
Although the debt isn’t “fully known or realised” - it will go into your B/R pot won’t it?
Say the negative equity isn’t “established” until October 2010 – i.e. after the automatic discharge
Will it still be included in the B/R?
But I would be so grateful if you could confirm the answer.
Lets say you go B/R today 12 8 09, with an automatic discharge on 12 8 2010.
You currently live in a house, it’s up for sale (or will be repo’ed) with negative equity of £27,000.
Although the debt isn’t “fully known or realised” - it will go into your B/R pot won’t it?
Say the negative equity isn’t “established” until October 2010 – i.e. after the automatic discharge
Will it still be included in the B/R?
0
Comments
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Yes, it will always be included in your BR, regardless of how long after discharge it is.
hthAccept your past without regret, handle your present with confidence and face your future without fear0 -
I thought so - but thanks for confirming it.0
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Hi script, it is called a contingent liability meaning that whenever the liability is realised it will be includedHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Now I know what it's called - many thanks0
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