best way to raise money for ben interest during brupcy

nwest_girl

hello to all, husband has just gone bankrupt, house in joint names and husbands ben interest is approx 10,000 plus a charging order of 5500, ex council property. other houses for sale at 95,000 to 110,000 not necessarily selling. On 192.com last sale was last year for 86,000. At ORs interview he was told someone could propose an offer to them for beneficial inerest based on house value of 95,000. Son who lives at home will raise money in his name for us to make payments, what is the best way for him to raise approx 15,000. Would it be mortgage, pers loan, not sure how to proceed. Please could someone advise.

jonesMUFCforever

If you son is not on the deeds then he can't have a mortgage.
What is his credit rating like? Is he likely to be able to afford the loan repayments?

nwest_girl

thanks for taking time to reply, his credit is good, only ever had one credit card, just paid this off to owe nothing on creditcards, has credit union loan at the moment, never overdue with payments anywhere,also how would he get a large loan like this if he is not a property owner

jonesMUFCforever

It depends on wheter a lender thinks he can afford the repayments.
He would have to be careful though if he mentioned why the money was needed this might spook some of them.

lethal_2

Get A Job? A Sensible Solution!

nwest_girl

reply to 'lethal' can you explain your response to my post, makes no sense! whatsoever, who should get a job? given that you have not asked me any questions about whether all concerned work or not.

nwest_girl

just read your other posts 'lethal' so your response is no suprise, your just a kid at college, read posts properly before you reply, you should have learnt this in class.

Cumbrian_Male

nwest girl

lethal is mistaking it as social security benefit hence the "get a job" reply.

So not only a twazzock but can't read either, so s/he needs to get an education.

nwest_girl

similar to my thoughts, was really irritated at his response to a serious question, but when i read his previous posts i realised he will post on anything and evrything

CLAPTON

you haven't said how much your son earns

also you may consider negotiating with the OR... remember that he wont actually want to sell the property .. uncertain price, selling costs etc etc. so if you can raise the money try him on 10,000