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5star
21-02-2006, 12:57 PM
I was declared bankrupt last september, and I was told that I must get someone to buy my equity in the house if I'm wanting to keep it. Which of course I am.
Thing is, the equity is £26k of which half of that belongs to my fiancee, so I was thinking of letting them take my home, and she gets £13k to start another mortgage.

I didn't want to pay out any legal costs for this info., as I thought I'd try you guys out first. :thumbsup:

Thanks in advance.

Tomataheeed
21-02-2006, 06:11 PM
How did they let you keep the house whilst declaring you bankrupt? I would have thought they would take all your assets to pay your creditors.

NUCAD
21-02-2006, 06:16 PM
Also depends on how the property is disposed of. At auction it will be substantially less than market value and could actually leave you negative equity. Although as tomataheed says if your bankrupt the equity (if any) will go to pay your debts ?.

ceevee
21-02-2006, 10:24 PM
I'm not sure I fully understand what you've been told and why, but if your situation dictates (and I'm not sure if it does)
I can buy the equity and let you rent back or stay free (in some circumstances) until you are in a position to buy it back if you wish to, still at a discounted rate. All legally done and above board. I can pay your legal fees etc.
Email me at apple@property-investor.net or give me a call on 07973 794551
I'm not a dodgy salesman either, I wouldn't know how!! I can talk you through it though. I always aim for a win/win situation.
Craig

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