Hi
Any advice welcome I am self employed,with buisness and personal debts of about £75000 ,my only asset is my home which is has about £50000,worth of equity in it,which is currently rented out,I my self live in a rented house,currently I am up to date with all payments but I will no be able to carry on for much longer,Iam worried that I may loose my house although none of my debts are secured apart from my home mortage,thank you.
Your creditor will probably want to see the sale of your property, given the amount of equity that you have in it coupled with the fact that you do not live in it. Is there any particular reason for this?
Do you have the ability to make any form of ongoing payment offer to your creditors, on a monthly basis - ie how much money do you feel that you would be left with at the end of the month after taking account of usual household and general expenditure, but before current debt repayments?
