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Cccs - br
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Remember the online bit is just a computer algorithm, I wouldn't let a compute tell me what to do,give them a ring and speak to a real personHi, 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 -
immoral_angeluk wrote: »Unless he was going BR his SE status wouldn't be at risk at all, and even if he was it may not have neccessarily been affected anyway. Yes he is going down with me :rotfl:
How much negative equity is negative equity? Guesstimate of £30k on a mortgage of £154k (original value £220K)
BR only appears in the London Gazette routinely now as all the mains banks are in the city.0 -
Remember the online bit is just a computer algorithm, I wouldn't let a compute tell me what to do,give them a ring and speak to a real person
Thanks Debtinfo............yes I have requested a call back so hopefully will be better informed after that
Just worried about making wrong decision...........pity I didn't take the time to do the same when I got the credit!0 -
SomewhereOverTheRainbow wrote: »Sadly in NI - it appears in Belfast Gazette and Belfast Telegraph (on a Friday)
As for the negative equity, the trustee would revalue the property after 2 years and (1 month? 3 months? I forget the exact number - it's late!) and look to realise equity after that point. If you have negative equity at that point then you can buy back the interest in the property for 1k + costs, but if there is equity they have generally 3 options:
-sell the property to realise the equity
-place a charging order on the property for the value of equity
-negotiate with you/partner/third party for whoever to buy back the interest.
It's the uncertainty that's the main problem. In 2 years you could suddenly find yourself with large equity and unable to buy it back so it's a risk you have to consider.Total 'Failed Business' Debt £29,043
Que sera, sera.0 -
LOL isn't it bizzare that now I want our house to stay in negative equity - I can't see it going up in value by £40k+ in 2 years but you never know.......I guess will have to keep that in mind.
I have mentioned another thread, which you were kind enough to reply to, my biggest issue is keeping husbands business informal debt seperate from bank/cc debt.............and LOL in my attempt to max out cc to get some money together - the one with the most (£1k) was cancelled a year ago by ME!!0 -
SomewhereOverTheRainbow wrote: »LOL isn't it bizzare that now I want our house to stay in negative equity - I can't see it going up in value by £40k+ in 2 years but you never know.......I guess will have to keep that in mind.
I have mentioned another thread, which you were kind enough to reply to, my biggest issue is keeping husbands business informal debt seperate from bank/cc debt.............and LOL in my attempt to max out cc to get some money together - the one with the most (£1k) was cancelled a year ago by ME!!
Has he called business debtline? They'd be able to advise him further of the impact of BR on his business..Total 'Failed Business' Debt £29,043
Que sera, sera.0 -
So that may be why Acct is looking at him going ltd ASAP............makes sense I guess, I really don't want to drag them into it....most are small businesses like ours and husbands bus is a small specialist sector...........word would spread like wildfire.
But in meantime I need to clear as much business debt as I can0 -
SomewhereOverTheRainbow wrote: »So that may be why Acct is looking at him going ltd ASAP............makes sense I guess, I really don't want to drag them into it....most are small businesses like ours and husbands bus is a small specialist sector...........word would spread like wildfire.
But in meantime I need to clear as much business debt as I canTotal 'Failed Business' Debt £29,043
Que sera, sera.0 -
Oh ok, I guess I am just trying to keep business afloat.............if we don't pay suppliers we don't get supplies ...............so hopefully OR will see that!0
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SomewhereOverTheRainbow wrote: »Oh ok, I guess I am just trying to keep business afloat.............if we don't pay suppliers we don't get supplies ...............so hopefully OR will see that!Total 'Failed Business' Debt £29,043
Que sera, sera.0
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