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house
memberme
Posts: 213 Forumite
Do you still always loose your house if you go BR. I have heard that if the house is in negative equity it is no use to the OR. I Know about beneficiary interest offers to exclude but just wondered about in general...is it a matter of course that you loose your house even if there is no equity?
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Comments
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no it is not a matter of course, that is a mythHi, 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 -
I have no intention of losing my house, I go BR next week. We're close to being in negative equity, so its not going to cost me thousands to keep the house, so I'll be applying to buy back the BI once the OR has sorted out our case.
I think if there is a lot of equity in the house (ie more than £10,000) and there is no-one who can pay that amount to buy the BI, then the OR would be looking to sell the house to get the equity.0 -
yup, lots of us kept our houses.
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should have added, so long as you keep up with your mortage payments!0
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