McKreddy & Windsor
Losing your home through debt is a traumatic experiance, there are a number of avenues you can look at taking to salvage something financial from your home if you reach the unfortunate position of being about to lose your home through debt.
YOU WILL HAVE NO SAY IN IT.
Where posible you need to retain control of what happens to your property so as to maximise any equity you may have in the property.
It is vitally important if you get into the position of not being able to meet your financial obligations to contact the people you owe money to and try to negotiate a repayment plan in most cases companies prefer to receive a small payment regularly than nothing st all. There are many people who can help you for free.
If all else fails try to sell your property yourself before any legal action is begun against you.
If you do nothing and your home is at risk it will be seized and sold to meet your liabilities. You and your family will be evicted within a short space of time (the courts usually give 28 days after a hearing for you to vacate the property, though in certain circumstances they will give an extension but this is rare).
Here is another example of what happens to your property Halswell Manor although not a usual property it demonstrats admirably what will happen to your property when it is repossessed. Halswell Manor is valued at some £3,000,000.00 but the receivers want a quick sale so the property is to be auctioned with a guide price of £250,000.00 less the receivers enormous costs will the person who went bankrupt receive anything, no.
See what we can do for you