bankrupsy

[c]

will i have to sell my home?

[WoWo]

With Bankruptcy what happens is you get a legal representative to deal with all the people you owe money too. Some may just accpet that they will never see the money again and forget about it. But yes your home is at risk if you go bankrupt. Do you ow the house outright or do you have a mortgage? if you have a mortgage then I'm pretty sure you would lose the house. here's a site which gives basic facts about bankruptcy http://money.msn.co.uk/planning/life_events/debt/insight/dea lingwithdebt/Bankruptcy/default.asp

[WoWo]

One other little nugget of information. Did you know that your home is at risk if you do not keep up payments even on an unsecured loan, the only difference between a secured and unsecured loan is that the under a secured loan the lender has first claim if you default a payment.

[WoWo]

And before anybody tries to say thats not correct http://www.121-finance.com/secured_loans_vs_unsecured_loans. html

[PaulB]

If you are married then the equity in your house can be bought by your Wife/Husband or anyone else for that fact.