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please help. keys back to bank

  • 13-02-2013 12:43am
    #1
    miggle
    Registered Users, Registered Users 2 Posts: 25 ✭


    I have a house in severe negative equity.
    It's a joint mortgage,, the other person has decided for health reasons to leave the country and emigrate back home to their family . It's within the eu.
    I don't live in that house, but rent accounts for less than half the mortgage and is not sustainable.
    I'm self employed and earn roughly dole money.
    An I facing bankruptcy ? Can they enter where I live and go through my personal belongings?
    My own health is going down because of this worry.


Comments

  • #2
    Peregrinus
    Registered Users, Registered Users 2 Posts: 26,998 ✭✭✭✭Peregrinus


    Talk to the bank. Your situation is rough, but it will only become rougher if you stick your head in the sand and hope it will go away.

    But first, talk to the Money Advice and Budgeting Service - mabs.ie. It's a free, confidential and independent service for people in financial strife. They can tell you what your options are, and how best to approach the bank.

    There's no really good outcome to the situation you're in, but you should certainly be able to avoid having the bailiffs entering your home and going through your stuff. And the sooner your tackle this, the easier it will be to bring it to some kind of orderly end.


  • #3
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    miggle wrote: »
    An I facing bankruptcy ?

    Bankruptcy doesn't have to be the financial prison sentence you may think it to be. For many people it can be a way of discharging themselves from insolvency and unmanageable debt.

    You need to find a solicitor or financial advisor who can talk you through your current options and options which will become available to you. Or talk to MABS. They advise people with financial problems every day.


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