when my house was repossesed

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balm

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Post by balm » Mon Jan 21, 2008 11:50 pm
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all my debts are unsecured exept 1 when my house was repossesed they sold it but are still after 4.000 pounds wat will happen to this if i declare bankrupt or an iva thanks
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MelanieGiles

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Post by MelanieGiles » Mon Jan 21, 2008 11:51 pm
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Hi balm and welcome to the forum

The shortfall will rank as an unsecured creditor alongside your other creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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iva experts

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Post by iva experts » Tue Jan 22, 2008 3:12 pm
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Hi Balm,

The £4,000 is a shortfall and is classed as an unsecured debt as the house which was the security is now gone.

Could you provide more information and then we could advise what option may be best for you?

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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