Question:
Home own in my name only 3700 in arrears secured loan against home 1200 in arrears and i av a debt mangament plan in place
If u declare your self bankrupt are secured loans against your propery cleared aswell?
Answer:
In bankruptcy only unsecured debts can be included, so none of the mortgage arrears or secured debts can be included.
If you cannot afford the property you can give the keys back and any shortfall from the sale of the property will then be unsecured and can be placed in your bankruptcy.
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