Due to my divorce I lost my home through re-possession and because we''d not long since re-mortgaged we had a negative equity. I am now been asked for £50,000. I''ve been advised by NDL that it is in my interests to go bankrupt. I have got an endowment insurance policy due to mature in a couple of years, if I do go bankrupt, will they take what little return is due on it. Would I be able to sell the policy to a family member?
Thanks for that. Have you any advice as to what I could do to keep it. I feel rather miffed, as I said we''d just re-mortgaged and we used the money to pay off the family car and get a motor bike, both of which the ex took and part-exchanged and sold and kept the cash. The endowment wasn''t taken out as part of the mortgage but something I took out for myself way before I''d even met the now ex.