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If i don't pay my credit cards, mortgage and loans and don't have any assets to sieze. What would happen to me |
If i don't pay my credit cards, mortgage and loans and don't have any assets to sieze. What would happen to me if you have no equity left in the house, there is always a voluntary agrrement, this cost in the region of 拢250 - 拢400. this will remove your debt but leave you unable to gain credit for at least 7 years. Citizens Advice will be able to help and give you any options and tell you/help you. http://www.citizensadvice.org.uk... Garnish you paycheck. damage to your credit. all that will stay on your credit report for up to 7-10 years. and if you have a mortgage on a home, the bank can foreclose. obviously you do have assets as you have a mortgage which means you have property if you have a mortgage, you have assets to sieze... Future earnings could be garnished. The creditors would be able to withhold (garnish) part of your paycheck until your debt is collected. Your credit rating would also be ruined, and it would be almost impossible for you to qualify for a lower-interest loan or credit card anytime in the near future. |
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