Hello my name is ***** ***** I will help you with this.
How much do you owe please?
Ah I see. Is there any equity in the property?
If you are made bankrupt then a restriction is placed on your property.
The Official Receiver will then take control of your assets.
If you can repay the debt plus costs then your house will not be sold.
If you can get a re-mortgage then your property wont be sold.
If you cant raise the funds then your property will be sold. That can be realised with equity to pay off your creditors.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.Can I clarify anything for you about this today please?
You can try but generally this would only be if you had a realistic prospect.
Does that clarify?
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