hello there we are going bankrupt thursday 26th july at 9.15.
The advice we need is this,we have negative equity in our property we are in negative equity by £1500 or so,we have a mortgage with northern rock,we are in a together mortgage,which as a unsecured loan of £23500 we have unsecured debts of £90000 which includes the £23500 as above,we did try for an iva but northern rock flatly refused this,we owe credit cards and loans,our main creditor is northern rock who we owe 70% of our debt,what we need to know is will we still be able to keep our home,we have never missed a mortgage payment we are struggling to pay our unsecured debt,we are 3 months behind with our unsecured payments,we have still been paying the unsecured together loan which is in with our mortgage payment,if we can keep our house what will happen to the the mortgage payment with regards to the unsecured loan with it [together loan]my wife and i are both going bankrupt and both our names are on the mortgage,weve been told that we will be able to keep our home but we need advice off an expert,we do have a child and we are both working,we would be very grateful if you could reply as soon as you can as we are worried about our home and also we never intended to get in to financial difficulties we are embarrased of our situation,we dont have any assets we are amazed were the spending as gone over the last 6 years or so thankyou
