Bankruptcy? Are we, can we?
We currently have 20 properties all either breaking even or in serious negative equity. Day to day we just make enough money to cover mortgages and day to day maintenance.
Thinking of going bankrupt but not sure how to go about it. Read lots of stuff on the internet but nothing is very clear.
We are in the North East and rents are low, tenants are a nightmare, we have properties where the council has introduced a license scheme we have to pay money for and seeing nothing for it but expense. Not paid the last installment as just haven't got it. Still paying for first one from last January.
Just after some advise really as to what to do or where to go.
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