Advice needed please

daniels82 · 20 March 2010 at 10:18AM

Hi everyone first post today but been lurking for a couple of weeks now.

Myself and the OH are due to go bankrupt in April and have a question regarding our Northern Rock mortgage.

We owe about 90k on our mortgage plus about 5k which is an unsecured loan which is also part of our mortgage agreement.

Are we right in thinking that the 5k will come into our bankruptcy as it is unsecured? Also we think our house is probably only worth about 85k so we think we will be in negative equity. Will Northern Rock then seek repossession of the house?

Many Thanks

sizzler · 20 March 2010 at 10:31AM

Hi there and welcome.

Any unsecured loans can be put in to BR.

sizzler:)

nervousmother · 20 March 2010 at 10:39AM

Yes the unsecured loan will go into the BR,

Northern rock will only seek to repossess the property if you are not keeping up your mortgage payments.

daniels82 · 20 March 2010 at 10:43AM

Thanks very much for your help

Advice needed please

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