Response to good news I think

I slightly disagree with the previous posting.

If a person is bankrupt then all his/her liabilities are discharged and become the responsability of the official receiver. This is the law, there is no way that a bank can chase a bankrupt for an old debt, this is a criminal offence. (Harrassing a bankrupt) If the lender has security on a property then bankruptcy will not release the secured charge.

The other part of the previous posting, are valid concerns, and qualified legal advice should always be obtained before committing to any such agreement.

Good Luck.

[ Previous | Next ]