secured debt post bankruptcy?

poppyjak

Hi I wondered if anyone could give me some advice?

I declared myself bankrupt 2 yrs ago and at the time i thought all debts would be taken care of however my secured debts remained, had I known this before my decision may have been different. 1 yr on after discharge I remain unable to pay my secured debts and my mortgage, I could afford my mortgage on it's own though! I have been advised just to hand the keys back to the mortgage company and my secured debts then become unsecured and can then be included in my BR but the problem is that i can't afford a deposit for a rented place and i have no friends or family to put me up. I am the single parent of 2 children ages 7yrs and 17yrs. Any advice would be very much appreciated as i'm not sure how long I can stay strong for!

tigerfeet2006

Stop paying your mortgage and SL and save the money for your rental deposit, removal costs and first few rental payments.

Who advised you when you first went BR?

poppyjak

clearly an irresponsible IVA company that i'd been with for a year!.

Falze

Its amazing how much you can saving if you dont pay the mortage & Secured loan.

Just be carefully. It is not easy to get a rental property if you have been BR. They may ask for 6 months up front.

I suggest you get better proffessional advise from one of the debt charities in tigers tail.

poppyjak

Thanks for the advice, much appreciated!

Falze

Sorry, but its best to have as much info good or bad either way.

poppyjak

I agree thanks Falze.

ani_26

I'm no expert, but i have been looking for housing for a long time now. Its possible your local council or housing association, may have an obligation to house you if you have dependant chidren, i.e. your 7 year old. Its worth a try. I'm not sure of the ins and outs of it, as you will deliberately make yourself homeless? The advice agencies will be able to give you better information, but the fact you have children, will work in your favour, i think.

Good deed done for the night, i hope


Nohope xx