Advice for Those Facing Bankruptcy

The prospect of bankruptcy and house repossession can be extremely worrying but being declared bankrupt doesn’t automatically mean losing your home. Talk to HomeKeep Solutions now and find out how we can help you to keep your property.

“I thought I’d exhausted all my options and was doomed to failure but HomeKeep Solutions quickly resolved the situation and negotiated with my lender. – Aidan B

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What’s the Best Way to Deal with Bankruptcy?

Many people see bankruptcy as a last resort when they are unable to resolve financial difficulties and there are certainly other options that may be available to you, such as:

How to Deal with a Court Hearing

There are three main ways you can respond to a repossession court hearing:

  • 1
    Administration Order: If you owe less than £5,000, an administration order may be a viable option. If so, the court will set out a monthly payment plan that allows you to pay off your arrears over time. Each month, you’ll make a repayment to the courts or an administrator, who will distribute the funds between your creditors.
  • 2
    Debt Relief Order (DRO): A DRO typically lasts for 12 months, and, during this time, you’ll make agreed repayments towards your debts. Once the DRO ends, your debts are generally written off. However, a DRO can have a long-term impact on your credit rating and financial standing, and you’ll only be eligible for a DRO if you owe less than £30,000 and don’t own your property.

What Happens To Your Home When You Are Made Bankrupt?

When you’re made bankrupt, your assets are seized so that your creditors can be paid part or all of what they are owed. Generally, this includes residential property, which means your home could be repossessed if you are made bankrupt.

If your property is in negative equity, the Insolvency Service or Bankruptcy Trustee has up to three years to decide whether to sell the property or return it to you. Although there is no guarantee you’ll be able to remain living in the property during this time, you may be able to negotiate an arrangement that enables you to stay.

If your property is in positive equity, the Insolvency Service or the Bankruptcy Trustee can force the sale of your home and use the funds to pay back your creditors. If you can raise enough funds to ‘buy’ the Trustee’s equitable interest in the property, however, this may enable you to keep your home. Whether you’re facing bankruptcy or have already been made bankrupt, contact HomeKeep today so we can talk through your available options.



Depending on your circumstances, it may be possible to avoid both bankruptcy and house repossession. However, even if you are declared bankrupt, you may still be able to retain your property. Contact HomeKeep Solutions now to access bespoke advice.
If you and your partner are joint owners, a bankruptcy trustee can still force the sale of the property. However, the non-bankrupt partner would receive their share of the equity following the sale.
Attempting to sell your home before being declared bankrupt won’t achieve the outcome you’re hoping for, as you won’t be able to keep any of the funds raised via the sale. In fact, a bankruptcy trustee can overturn house sales that occur up to five years before you are declared bankrupt to prevent you from disposing of assets.
If you’re declared bankrupt, your house may be sold, and you could be evicted. However, if you have dependent children living in the home, the bankruptcy trustee may wait up to a year before starting repossession proceedings. When you’re facing bankruptcy, taking action quickly can be key to retaining your home and resolving the situation, so don’t hesitate to contact HomeKeep Solutions and let us provide the help you need.

Our Reviews

“I didn’t know where to turn for help when a repossession order was granted but your team was instrumental in stopping the repossession and helping me to keep my property. I don’t know where I would be without you and I’m eternally grateful for your expert advice and knowledgeable support.”
Neil S
“I’m so grateful to the HomeKeep Solutions team for helping me keep my home and supporting me when I had nowhere else to turn. I was convinced my home would be repossessed but, thanks to you, I’m back on track and secure in my own home.”
Taylor P
“I thought I’d exhausted all my options and was doomed to failure but HomeKeep Solutions quickly resolved the situation and negotiated with my lender. Not only can I stay in my home, but I can face the future knowing that my property is no longer under threat of being repossessed. Thank you.”
Aidan B
“I was near breaking point by the time I called HomeKeep Solutions and I’m eternally grateful for the compassionate advice they gave me. Within days, their team had stopped my eviction and given me respite in the most difficult of circumstances. Now, I can look forward to a bright future – in my own home!”
Shirley L
“I was days away from eviction when I called HomeKeep Solutions and was convinced there was no hope but, to my surprise, you stopped the eviction and made sure I’d be able to stay in my home. Your friendly, professional advice made a world of difference during such a stressful period in my life, and I’ll never forget the help you provided.”
Lloyd S
“I can’t thank you enough for helping me keep my home! I’d had no luck trying to reason with my mortgage lenders, but the HomeKeep Solutions team acted quickly and negotiated a long-term payment plan that’s affordable and realistic. As a result, I’m no longer facing repossession, an enormous amount of stress has been lifted and I can begin enjoying life again.”
John O

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