Sadly, in the current uncertain economic climate, many people have found themselves in difficult financial situations.
Filing for bankruptcy is sometimes the only option, but it should be a last resort. If there are alternative ways out of your difficulties, these should be explored before you go down this route.
How will bankruptcy impact on your life?
If you’re declared bankrupt, your credit rating will be impacted for the next six years. You could lose your job, and some companies may not employ someone with a bankruptcy history.
Any luxury items, cars and possibly your home will have to be sold to pay your creditors. Depending on your income, you could be required to make debt repayments for three years.
Bankruptcy is certainly not an easy option, and if you’re struggling with debt, you should seek advice, starting with the Citizens Advice Bureau.
Should you sell your home?
Whether you should sell your home to avoid bankruptcy will be very much dependant on your personal circumstances.
It may be that if you’re declared bankrupt your home will need to be sold anyway. This will be dependent on whether your official receiver or bankruptcy trustee thinks it appropriate. The money raised from the sale of your home will be used to pay off your debts.
You’ll be faced with many difficult choices when faced with bankruptcy, and you need to explore all avenues before making your decisions. For example, should you sell your home to prevent the need to file for bankruptcy?
How quickly can I sell my house?
If you plan to sell your house to avoid bankruptcy, you’ll need to move fast. That rules out marketing your property with an estate agent – you simply don’t have the time for that.
An agent may promise a fast sale, but the reality is that it can’t be guaranteed when it depends on finding a suitable buyer. There are inevitably hold-ups, endless legal paperwork and chains of varying lengths.
An already stressful situation can be made even worse when you are under pressure to sell to the first buyer.
How much will I get for my house in Aldershot?
If you’re selling your home to avoid bankruptcy, you need a cash buyer.
If you contact us, we can make a prompt valuation of your property in Aldershot, basing it on your home’s value, its immediate location and surrounding amenities. You’ll then receive a quotation for a fast cash sale.
There’s less paperwork, less hassle, and far less time needed before you can obtain the cash locked up in your property. You free up the money you need to help clear your debts and prevent the situation from getting worse.
Avoiding bankruptcy and clearing your debts will give you a much stronger foundation upon which to rebuild your life. You can then put your financial problems behind you and move forward into a new chapter.
Would you like advice on how to sell your house fast for cash?
Sell My House Quickly Aldershot provides a professional, reliable and convenient solution to selling your home fast.
Please get in touch with Mark Lloyd at Sell My House Quickly Aldershot if you have any questions, or you want to request a competitive cash offer to buy your property.
Call: 0800 465373
Text/Whats app: 07703 189658
Or simply complete the enquiry form and we will respond by return.