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Bankrupt and Property in Negative Equity - Bankruptcy UK

OUR TEAM ARE AVAILABLE NOW TO HELP WITH COMPLEX INSOLVENCY ISSUES

 

Bankrupt and Property in Negative Equity

what if I have a mortgage but the property is in negative equity? will I still have to move out in case of bankruptcy?

Please understand that bankruptcy is all about unsecured debt and (generally) excludes secured property, so provided you maintain your mortgage payments the property will not be affected. The Official Receiver will defer any decision re the properyty for two years and three months, pending another valuation – if the position is unchanged, the OR will give up his interest in it.

Bankruptcy UK offers bankruptcy help across the board and will submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.

 

Bankruptcy UK

Bankruptcy UK