Bankrupcy and Property

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David F
Posts: 21
by David F » Fri Jan 15, 2010 3:26 pm
Hi All,

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,

David

 

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Julie
Posts: 9503
by Julie » Fri Jan 15, 2010 8:10 pm
David,

I'm locking this post as its a duplicate.
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