Beneficial Interest-Equity

[BlueShoes]

If we were unable to persuade a friend or relative to buy out the beneficial interest in our property following bankruptcy, what happens then?
(There is approx £3000 equity in house at moment)
Blue

[scaredkez]

if you can't raise anyone to buy the BI for you , then the OR will dispose of your asset, they don't throw you out over night they give you at least 12 months to find somewhere, some 3 yrs, they do a drive by valuation of your house so you may be surprised and they may value your house less than you think and you may be able to keep it if its equity is low, they will weigh up the costs of selling it to what they would obtain.

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[BlueShoes]

Thanks Kerri
As the IVA meeting looms ever nearer I am trying to make sure I have every eventuality covered!
Fingers crossed!
Blue

[scaredkez]

i know blue its a hard time, i hope your iva goes through for you, but you do have to weigh up your options, i just wish i had had the guts to go BR months ago, everything will work out for the best.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/