what would happen if I went bankrupt?

Eurekaonide

Hi everyone

I wonder if you can help me at all,

If I did declare myself bankrupt or get a DRO would I be able / likely to be given a mortgage in another 18 months times when I'm supposed to be buying a share of my house?

Or - would I be more likely to get a mortgage if I'm still in debt ???

Any suggestions welcome

dancingfairy

Hi I think your question is better suited to the bakruptcy board. Link here:
http://forums.moneysavingexpert.com/forumdisplay.php?f=136
df

lvm

You would be very unlikely to be offered a mortgage in 18 months if you were made bankrupt. How is your credit score at the moment? Do you have late payments or defaults?

If you have none of these but have a bit of debt then your total debt would probably be taken off whatever mortgage a provider would normally give you...

Having defaults on your account is a big thing so if there's anything you can look at to avoid this it would be worth it.

You can post your Statement of Affairs up here and people will comment on where you could cut back/get more income etc which may help.