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7. If I have a house with negative equity, would I have to give it up?

 

That would rather depend on the Mortgage Lender. If during the continuance of your bankruptcy you were able to continue to make payments either because you have insurance in place, or you are entitled to Housing Benefit (in respect of payments of interest), and you can make repayments of the capital also, so that in effect the Lender is getting his normal repayment, then the likelihood is that the Lender would not seek to repossess the property and the Trustee would not be interested because there would be no asset value.

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