repo + bankcruptcy ( help ) : LUSENET : Repossession : One Thread

we are thinking of going bankcrupt,we have a mortgage with the halifax with approx 35000 left to pay , a secured loan for 15000 & other debts of 18000 , we dont want to keep the house as it is now to small due to family additions. would it be best to file for bankcruptcy now & let the trustee deal with it all or hand in the keys & get a council house or wait & get re-poed (which we dont really want to do as this could take years) we are not in any arrears at the moment, but are going to stop paying now. we would like to know the best course of action to avoid creditors chasing us. wait for repo then go bankcrupt ? go bankcrupt now ? try to sell the house ?

all replies greatfully received.

cheers anon

-- anon (, June 04, 2000


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