Sell House Quick to Property Buyer and Rent Back | Fast Property Sales | Stop Repossession

Facing Repossession or Bankruptcy?

If your home is at risk of repossession, there is help available.

If you have equity in your home, bankruptcy can be avoided and you can even choose to remain in your current home as a tenant should you so wish.

We buy nationwide offers this service to many satisfied customers, many of whom often choose to buy back their property at a later date at a pre-agreed price once they become more financially secure.

This offers the best of both worlds, you avoid loosing your home and reputation and your credit rating is preserved rather than destroyed (a major drawback of bankruptcy) your debts can be paid off with the equity you release from your property and you can be free to get on with your life as you choose.

You may even be left with some money to treat yourself, or to help you to arrange another home for your family should you decide not to remain in your current home.

Sounds too good to be true? It's not. This is a perfectly legitimate way to rebuild your future and many people are doing so with the help of We buy nationwide every year.

You may be wondering, what's so bad about Bankruptcy? Isn't it true that it’s easier these days, and it will leave me with a clean slate? Not exactly. Read on to find out more...

Bankruptcy should be seen as a very last resort. There are numerous devastating and in many cases crippling consequences to bankruptcy. It will never be as simple as having a clean slate and moving on with life. It may not just affect your credit rating, but also your career. If you are facing your home being repossessed, it may well be that the best alternative to allowing this to happen is to 'beat the bailiffs to it' by selling your home with a fast sale to us.

This may allow you to pay off your debts with the released equity and ultimately have a chance of repairing your credit rating as opposed to in effect 'destroying' it by being declared Bankrupt.

Listed below are the basic drawbacks to becoming Bankrupt. Before beginning the process of declaring oneself bankrupt or allowing the bank to declare you bankrupt, you should research exactly what it would mean to you and your family.

The debtor will lose any assets of value.
Though they may not be sold immediately and, perhaps, not even until after the bankrupt has been discharged. If the debtor owns equity in a home, this will almost certainly be repossessed and sold very cheaply to cover the debt. You could loose thousands of pounds and your home.

If a business is owned, this could be sold and any employees dismissed.

Current accounts can be difficult to obtain, though there are some very basic accounts which include a cash card offered by a limited number of banks and building societies.

Debit cards become virtually impossible to obtain.

Bankruptcy can ultimately be expensive. All fees for the insolvency service, courts and any trustee are taken out of the debtor's assets. There is a 15% levy on all sums received by the Official Receiver/trustee.

Following the bankruptcy, if trying to obtain credit of more than £500 the debtor must disclose his status as an un discharged bankrupt. The debtor must allow all his financial affairs to be scrutinized, and can face criminal charges if irregularities are found.

A Bankrupt cannot hold certain public offices, such as MP, councillor or magistrate, or practice certain professions, such as solicitor or accountant. They also may not hold office as a trustee of a charity or a pension fund. Nor can a bankrupt be a company director or trade under any other name than the one used at the time of bankruptcy. Names of those made bankrupt are published in the London Gazette and the local press and can be viewed online at the Insolvency Service website, making them accessible to anyone in the world.

If after reading this brief guide to how Bankruptcy may affect you, you would like help to avoid this action by selling your property fast in order to pay your creditors before action is taken against you, please call 0845 053 4963 or alternatively submit an enquiry online now and we will be in touch with you ASAP to discuss how we can help you in your individual circumstances. There will be someone on hand to take your call 24 hours a day, 365 days a year.