My husband and I have decided that bankruptcy is the route we will be following due to accumulated debts. I have a fifteen month son and am unable to work to assist with these ever increasing debts due to the cost in childcare and travel as we are in a rural area.(posted 8435 days ago)We originally come from the south and have decided to return as there is more use of public transport and we have family and friends who can assist with childcare ensuring that we can at least obtain an income to live to minimum standards.
We have been informed that our house will sell at the exact mortgage price and so will not cover a £3000 penalty payment to our mortgage lender and will incur a shortfall after estate agent and solicitor costs.
Can this shortfall be added to our bankruptcy total??? If so do we sell before we go bankrupt or give the the house up after??