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Can I avoid bankruptcy
Anne2
Posts: 91 Forumite
Our house has just been repossessed and was in negative equity. I'm expecting the BS to be asking for around £25,000-£30,000 once they sell it and are left with the shortfall. Would the BS accept a small monthly payment if they realise my only other option is bankruptcy, in which case they would get nothing? No idea how or if that could work? Any ideas??
Thx!
Thx!
0
Comments
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depends on how much the payment is and how long it would take to pay it back. If you speak to someone like CAB, CCCS and national debtline they can talk through the different options availableHi, 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 -
Thanks debt info! I spoke to national debtline before we stopped paying our crazy mortgage and we spoke more about bankruptcy. Will ring them again to see what they say.0
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how much do you think you can afford each monthHi, 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 -
At the moment roughly £250, but I start paying my student loan again in a couple of months, then it will be about £900
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I think it would be difficult to get them to accept that. They probably wont make you bankrupt themselves, but they can make life difficultHi, 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 -
With letters and phone calls?? They're still sending stuff to our old address (repossessed one). I gave the new one to the court when the house was repossessed but I guess they don't pass that on. They have my mob number but stopped calling that when I didn't answer0
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