Bankruptcy/Personal Loan

wiccan33

I wonder if anyone can help me with my query. My business folded a few years ago due to non payment of accounts by customers and I found myself unable to pay my bills and became bankrupt. One of the creditors that I listed on my bankruptcy was for a personal loan I had taken out to finance the business, guaranteed on my house. However, I continued to and am still paying off this loan along with my initial mortgage. The OR had no interest in my property in the bankruptcy as there was no equity in it.

I am now in employment but am on a low wage and struggling to pay both this loan and the mortgage. As the loan was listed on my initial list of creditors does this mean that the loan is still outstanding or like with my mortgage, if I wasn't able to pay they would re-possess? Thanks for any help.

IF

Hi Amanda and Welcome to the BR board, I'm not a 100% sure so bumping your post up the board.

Best wishes
If...x

debt_doctor

Hi,

As you say that the loan was "guarenteed on the house" then I assume this was a secured loan. Secured loans are outside of the scope of bankruptcy so this loan would not be part of your bankruptcy.

DD