tad_admin Staff asked 12 years ago

I am in a trust deed but i lost my job over 6 months now they are taking me to court (sequestration) but I get no money from the goverment what will happen will I need to leave my partner and kids so they can take anything out her house

6 Answers
answered 12 years ago

The answer to this question should be useful – will I lose my house

I am guessing you have paid the mortgage, bills etc. at some point, therefore you have a claim to part or all of the house, and you don’t need to be living there for you still be have an interest in the property.

Please get help. The courts will not want to see you and your family on the streets. Talk to your the person managing your trust deed, do it in writing and communicate with your creditors in writing to. Try and negotiate new terms.

I know you’ll be trying to get a job, good luck with that as well.

answered 12 years ago

we do not own our house we rent it from the council and her name is the only one on the papers

answered 12 years ago

i am in a trust deed but i lost my job over 6 months now they are taking me to court (sequestration) but I get no money from the government what will happen will I need to leave my partner and kids so they can take anything out her house. we do not own the house she rents it from the local council and her name is the only one on the tenancy.

answered 12 years ago

With Bankruptcy and Sequatration they can only take what is yours. If you live in a council property stay put, they can’t take it from the council. Good luck.

answered 6 years ago

Declaring bankruptcy will not grant that anything will be lost

depending on the agreement they made.