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- Tue Jul 26, 2011 12:27 pm #270993 Can you help please! I am still very much undecided about what to do about bankruptcy. However, I have spoken this morning with Wilson Andrews and they have stated that if I pay a £500 nominal fee then later on my house cannot be used as an asset if it accrues equity I this right? Im thinking now bankruptcy probably is the best route but not if it in any way jeopardises my house.

[JaneClack]

- Tue Jul 26, 2011 12:37 pm #271003 Are you paying Wilson Andrews anything upfront?

Visit your local CAB or Money Advice Centre - I am assuming you are in Scotland as this would not be the case in England and a lot would depend on the amount of equity. Their advice is free and they can also produce certificates of sequestration if they have accredited money advisers

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- Tue Jul 26, 2011 12:45 pm #271013 Sarah's first question is the reason to be cynical about Wilson Andrews. You are in Scotland so they may be right, however be very careful. Read the following link and do your research.

http://www.trust-deed.co.uk/forum/topic ... IC_ID=1044

- Tue Jul 26, 2011 5:07 pm #271033 This would be true if the equity is below £5k as mentioned previously.

Also as mentioned previously you need a valuation. If it comes back higher than you expect you will be expected to pay more.

You seriously do not need to pay for help to complete a bankruptcy. Sarah and I have both said you can get this free at your local cab or council money advice service