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richyread
| 13-01-2010 09:31 PM |
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Joined: 13 Jan 2010 Posts: 1 | Hi we are looking at bankruptcy But worried I know we will loose the house we are in now Was advised to get a rented property now secured then go bankrupt why we are still in our morgaged home is this the right thing to do or just go fill the forms in now we have 3 young children and want to make sure they are safe and do the right thing we have a car that worth around 4k but think we need to sell this to help pay for the rent fees and get a cheap run around whats the best thing to do very worried |
| DW George | 17-01-2010 11:18 AM |
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Joined: 01 May 2007 Posts: 492 My Profile | Are you definitely losing your house? With respect to renting, most landlords will do a credit reference check on you before renting your house and some landlords won't. There's no general rule of thumb as landlords will be interested in your present financial circumstances ei can you afford the rent? Bankruptcy doesn't necessary mean you be losing your house. Bankruptcy is a solution designed to cope with your unsecured debts. If you have no equity in your house then it will be unlikely you'll lose you house, provided you can maintain your mortgage payments. |
