Then try a Property Swap
Swapping property is an alternative way to market your property and its costs are low.. If you've tried property agencies and estate agents with no luck then try doing it yourself.
You easily create your own property swap listing adding photos that you have taken yourself, then publish it to property swap sites on the net.. Interested parties contact you directly via a secure e-mail system, and you can decide if their property could be a possible swap.
They are not estate agents so there is no more to pay.
If you arrange a property swap there is no more to pay. So rather than paying an estate agent thousands of pounds your total fee could be very low.
Bankruptcy and its alternatives: Your questions answered
Filing for bankruptcy is a very final and drastic step that should be avoided wherever possible. A financial advisor will always suggest that other forms of debt management, insolvency and consolidation are considered and that bankruptcy is only ever chosen as an absolute last resort. Opting for an alternative to bankruptcy will not only be better for you as an individual or company, but also be more beneficial to your creditors in the long run as they will recoup their full amount owed. Explore the alternatives listed below and decide which would be the best course of action to address your financial situation.
Can I renegotiate my repayment terms?
Most creditors are willing to negotiate payment terms as they realise that if an individual is declared bankrupt they may never recover their money. Approach creditors and offer an alternative repayment plan over an extended time period and reach a compromise regarding a renegotiated payment plan. Renegotiation is only an option if it is almost certain that your financial situation will recover and the new payment arrangement can be met. Negotiation is also a smart way to buy more time to rebuild finances. If renegotiation is undertaken, endeavour to formalise the agreement in writing as if the creditor only agrees verbally they can still demand full repayment on their original terms at a later date, despite the new agreement in place.
Is a debt relief order suitable for me?
A debt relief order or DRO provides debt relief with restrictions. This option is suitable for people who do not have their own home, have little surplus income or assets and are in a limited amount of debt. A DRO typically lasts for around 12 months and during this time no creditors listed on a court order can attempt to recover their money without official permission. If the DRO period expired and financial circumstances remain unchanged the individual is released from the debts listed on the court order. The conditions for a DRO are explicit and eligibility always needs to be confirmed before you proceed with this option.
Is debt consolidation the answer?
Debt consolidation is a popular method for dealing with debts that stem from many different providers. Debt consolidation means borrowing from one institution at the lowest possible rate to repay many debts that all have higher interest rates. This method is often utilised by debtors who are struggling to meet monthly repayments on several high interest credit cards, thus incurring even higher penalties and additional interest when terms are not met. By consolidating your debt you are also simplifying your budget as only one large monthly payment is deducted from your finances.
Can I afford not to file for bankruptcy?
The alternatives to filing for bankruptcy are numerous, but in many circumstances they require the co-operation from other parties to keep you solvent. Bankruptcy has a long term, far reaching effect on your finances and many companies or lenders would prefer to receive a smaller payment over a longer period of time rather than force you to file for bankruptcy. If you cannot deal with your debt problems on your own, either by personal budgeting, family assistance, renegotiating payment terms or debt consolidation you can consider an option like a formal proposal to your creditors. This is a legal agreement whereby your account is administered by another party and a licensed administrator manages your finances for a stipulated period of time. If you require assistance in restructuring your finances or getting out of debt seek out a professional Bankruptcy Advice Service where an advisor can assist you in finding the best possible alternatives to filing for bankruptcy.
But how should you swap your property?
But how should you swap your property? There are many case studies available on the web of successful property swaps, but what should you do to maximise your chances of a swap?
The main thing is that you need to be flexible about what you would consider as a suitable swap. There is no point is specifying that you want a 3 bed house with a south facing garden in a certain street in a certain town. If you do you cut the chances of swapping property down to almost nil.
Instead look at the bigger picture. Perhaps specify a county or a town and leave it at that. In this way you will attract more possible swappers.