Could somebody please give insight as to what happens, in the following case where:
1) The debtors family home is in negative equity (both in terms of current market value and/or arrears).
2) The debtor remains in the family home on adjudication.
3) Debtor fails to make reasonable mortgage repayments for whatever reason (e.g. unsustainable).
4) The Official Assignee fails to dispose of the family home within the 3 year period post adjudication.
In the above scenario (which may not...
What happens if the OA does not sell the family home within 3 years?
1) The debtors family home is in negative equity (both in terms of current market value and/or arrears).
2) The debtor remains in the family home on adjudication.
3) Debtor fails to make reasonable mortgage repayments for whatever reason (e.g. unsustainable).
4) The Official Assignee fails to dispose of the family home within the 3 year period post adjudication.
In the above scenario (which may not...
What happens if the OA does not sell the family home within 3 years?