Hello,
My wife and I are are moving to NI in the coming weeks to apply for bankruptcy. We have tried all ends up to meet our obligations but feel we are on a losing battle. Our mortgage provider is not helpful in anyway, they sweep the problem under the carpet and are more interested in how we are going to clear off the arrears we initially aquired when we first got into trouble with our home loan. We are engaging with MARP but also feel that there is no resolution fortcoming from our full participation with this process.
We sat down last night and decided once and for all that we needed to take action ourselves, take the plunge and hand back the keys of our home.
I have a couple of questions about the next steps we should take; if somebody could please take the time to answer.
1. Should we write to the bank and tell them we are handing back the property?
2. Should we put the property up for sale before we hand the keys back?
3. Do we need to engage a bankruptcy practitioner or can we go to the courts in NI ourselves?
Much appreciated,
Boomtobust
I am hoping to re-locate my business up there.
Steve, thank you for taking the time to answer my questions, very informative.
Jim, the business is me. I am a sole trader. I am currently taking an income of €300 net per week. It is anyones guess whether the business will weather the storm. Probably a silly question but what becomes of the business when I file? Is a commercial lease also taken into consideration when filing for bankruptcy?
Thanks again.
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