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Handing keys back to lender - before or after bankruptcy??

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  • debt_doctor
    debt_doctor Posts: 4,595 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Go bankrupt.
    Inform the lenders
    Give the keys back (if you want to, the locks will get changed anyway)
    NEVER sign anything in relation to the property, and certainly not a deed of acknowledgement.
    Secured loans are outside the scope of bankruptcy so will not be part of your BR until the property is sold. (list the property on the application) At the point of sale, any shortfall, costs etc will become part of your earlier BR, even if it happens years afterwards.
    DD
    Debt 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 ***
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