An organisation is making me bankrupt while i have a repossession order on my flat – what should i do?
The flat would form part of the bankruptcy estate and any shortfall on the eventual sale would be absorbed in the bankruptcy i.e. you would not be liable. We suggest you stop paying the mortgage immediately and remain in the flat until such time as you are ordered to move, which can take several months. Any shortfall on the eventual repossession and sale of the flat will be included in the bankruptcy, regardless of how long the sale takes.
If you are considering bankruptcy, we will help you throughout the process and submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us for a chat or for bankruptcy help on 01425 600129.