mortgage payments while bankrupt

robkaz69

Applied for IVA, proposal rejected as Abbey would not except less than 40pence in the pound.

Now looking at bankruptcy, my mortgage is also with Abbey, if the OR take my house as means for paying my debt so be it.

Question

Once bankrupt can i stop paying monthly mortgage as i do not see any benefit of paying when i will not see any equity?

My wife is looking at council houses and private rental so i prefer to pay them than the Abbey.

Any thoughts would be appreciated

Thanks

fermi

It would be worth reading this on the Insolvency Services website.

http://www.insolvency.gov.uk/guidanceleaflets/home/home.htm

It would also be worth your while looking at the rest of the site.

http://www.insolvency.gov.uk

makingendsmeet_2

If your house has no equity in it at all or very little the OR won't be intrested in it. You need to read up on buying the benefical intrest in the property.