will i have to make monthly payment to court

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julie.ms

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Post by julie.ms » Mon Jan 28, 2008 3:24 pm
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my mortgage is 95000 my secured loan is 22000 and all of my other debt add to 12000 my house is worth 124000 will i still have to make monthly payment to the court afer we are bankrupt my partner gets 1200 i get 120 child benefit and 80 per week family tax
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Adam Davies

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Post by Adam Davies » Mon Jan 28, 2008 3:30 pm
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Hi Julie
That will depend on how much the Official receiver feels your disposible income is.
Are you moving out when you become bankrupt or hoping to stay in your house,buy out the ORs interest and keep paying both your secured loan and mortgage ?
Regards
Andam Davies
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ianmillington

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Post by ianmillington » Mon Jan 28, 2008 3:34 pm
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Presumably you mean in respect of one or more CCJs that creditors have got against you? If so, when you are made bankrupt then you won't have to make these payments.

PLease bear in mind that bankruptcy has wider implications, for example your home is at risk and you might have to make payments into the bankruptcy depending upon your expenditure levels. If you want more details, post back.

Ian
Ian Millington
Insolvency Director
PDHL Ltd (formerly Personal Debt Helpline Ltd)
www.pdhl.co.uk
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