We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
bankruptcy and my old house
skiloz
Posts: 4 Newbie
hi
I am in the process of going bancrupt
my question is : I had my house repossessed in march 2013 and the bank hasn't sold it yet, what happens to the house now. we bought the house for 183,500 the outstanding on the mortgage was 162,000 and the house is now worth 235,000 am i still entitled to any equity on the house
I am in the process of going bancrupt
my question is : I had my house repossessed in march 2013 and the bank hasn't sold it yet, what happens to the house now. we bought the house for 183,500 the outstanding on the mortgage was 162,000 and the house is now worth 235,000 am i still entitled to any equity on the house
0
Comments
-
Any equity due to you will go to the OR as it will be as asset in your BR.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
-
Hi,
Have you gone bankrupt yet?
If you go BR then the situation will be a tigerfeet says, but if you were to receive £74k and didn't go BR would this clear your br debts or could you do full and final settlements with the money?
All depends upon your figures being correct, the property being sold and how pressing your need for BR is.
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0 -
can the or force the sale of my old house even though it was repossessed two years ago0
-
You won't need to get involved. You just tell the OR that your home was repossessed and as far as you know the sale hasn't been completed. Let the OR deal with the lender.
Why has it taken so long to sell?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards