Help - Secured Loan (First Plus)

BlueBell_2

Can anyone give me some help please. My best friend is in huge debt and I am trying my best to help her sort the mess out. She is not strong enough to do it alone as she is under so much stress. I have spent hours & hours trawling the internet for information and I need some clarification on a particluar issue.

She has a loan for approx £85 with First Plus which is secured against the house.

She is on the verge of filling in the backrupsey forms, however I read today on a web site that secured loans will not be included in the bankrupsey.

Is this true? Does that mean that if she goes bankrupt she will still have the £85 loan to pay back (which she cant because she has lost her job through all of this).

Thanks in advance for any help x

poorandindenial

Hi BlueBell

The best place to ask a BR related question is on the Bankruptcy board (see the little bit above the main DFW board) as everyone on there is in, has been in or is considering bankruptcy. The people there will also be able to help you with the forms and process.

Your friend may not need to go straight to Bankruptcy, she may be able to go down another route. There are a number or organisations that can give your friend impartial advice to help her sort her situation out (here is a link to the list of them). One is called CCCS and has an online tool that will help her to see what her options are.

Your friend is very lucky to have your support to help her to get through this. Good luck to both of you for being able to sort this out.