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Can we have the full background to the question please?
do you own a house that you live in?
u I will be off-line shortly until tomorrow but will pick this up then
I am a sole trader business and we used an hotel in bristol for lodging for our employees.
We have lost alot of money on a project and i have been advised due to being a sole trader to go bankrupt
My property( my name only) has three charges against it so no equity.
Debt is £25k and i have no money to pay
Father is paying my mortgage for along as it takes to get through bankrupcy if i need to do that tomorrow/friday
I ceased trading in the business in may 2013 due to debts
I have been told that i will keep my house as there is no equity in the property.
Why then will i have it reposessed?
My payments are being made by my father and the official receiver has no equity so why ?