will i lose my house?

shezzy

We are seriously considering bankrupcy but the only thing stopping us is our house. we have a mortgage of £123000 left and it's worth about £135000 will they make us sell it ? We have been offering small payments to everyone we owe, altogether we owe £53000 unsecured debt, just can't see how we will ever pay it back this way. Our situation is not going to get better infact it might get worse if my husband loses his job through stress. We are upto date with our priority bills.

So could anyone let us know about the house?

Thankyou

shezzy

tigerfeet2006

Hi and welcome to the board,

The first thing you need to do is talk through your options with one of the debt charities(see my sig.).You will need to do this as if you decide to go BR then the judge could delay your petition untill you do.

Also houses are complicated so it is always best to take professional advice as well as help from us.

You should generally be given the oppurtunity to buy your beneficial interest back from the OR though.