when calculating my total debt

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imbra

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Post by imbra » Sat Jan 10, 2009 9:11 pm
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when calculating my total debt do i include my mortgage and endowment?
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luluj

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Post by luluj » Sat Jan 10, 2009 9:16 pm
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You should total your debt into two types secured and unsecured. Secured being your mortgage / secure loans on your property, unsecure is the credit cards and loans not secured on property.

Hope this helps.
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MelanieGiles

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Post by MelanieGiles » Sun Jan 11, 2009 12:25 am
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Your endowment is not a debt, rather it is an asset which would need to be declared to creditors and possibly realised to enhance the offer made.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Sun Jan 11, 2009 12:28 am
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And whether the endowment is secured to your mortgage lender or not needs to be clarified.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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