Will I lose my home if I am declared bankrupt?

Will I lose my home if I am declared bankrupt?

Priti Shah (Debt consultant) gives expert video advice on: Will bankruptcy affect my credit rating?; Will all my debts be written off in bankruptcy?; How do you know when your bankruptcy is over? and more...

Generally we believe that if you declare bankruptcy then you will lose all your assets, and your biggest asset is your home. Well, this is not necessarily always the case. In fact, if you can actually find someone who will buy your beneficial interest in your home then you get to keep your home. Surprisingly, it could only cost them perhaps one pound. So what you need to do is seek professional advice if you're in this kind of position.