I own a house with approx. £20k ish of equity based on current market values in my area. House worth £210k / secured debt £190k.
I have unsecured credit debt of £125k
I am currently on benefits after losing my job but I also receive interest relief payments so I am able to meet my secured debt monthly payments.
Would bankruptcy be an option for me without losing the house?
Would the OR use current house values or a "Forced" value when working out the equity in my house?
Many thanks for any help / advice,
Who is onlineUsers browsing this forum: No registered users and 14 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location