Bankruptcy will cover both properties not just the one you use for work!

Iv looked into it and it wouldn’t cover all the costs for rental and air bnb not an option. I appreciate the suggestion ,thank you however I was interested to hear of other people’s experiences if there are any  x

Do you want to sell it eventually?
Hope you get this financial stress sorted .

wondering if any one has gone bankrupt as a sex worker and what your experience was ?
The thought of bankruptcy is extremely overwhelming for me and add declaring what I do for work is even more daunting!
The possible bankruptcy will be due to negative equity in a property I use solely use for work (I don't live there ) so I guess I will have explaining to do while I am paying for 2 properties.
mortgage , service charge , bill increases and work decreasing / perimenopausal issues means I just can not keep up with the incall property bills any more along with overdrafts /credit card debts I really feel the burden. X

If it’s negative equity can you just not ride it out or every rent it out to other escorts on a daily rate
Could you go interest only for a while
Banks have a duty of care to you and you going bankrupt and then potentially having to take a hit is the last thing they want

Bankruptcy isn’t as bad as it used to be years ago when people were really stigmatized over it
But it’s still a major financial hit
Your credit file will be screwed for anything between 3 -6 years
But it’s not the end of the world


Agree with other get advice and avoid thr one that want payment

Look into the dent relief order see if that will cover you it’s cover up to £30k. If you rent your working place to girls weekly you should be able to cover your mortgage easily. It might seem like you will be at peace of mind by declaring bankrupt but in all honesty it will restrict you from a lot of things in the future for a long time. If you have the houses owned by private limited company them it would not affect your personal name. Seek advice on if you can still do this, if so better off declaring bankrupt that way.

Thanks for all the advice /suggestions. I was however looking to hear others experience more than anything else. Xx

I’m sorry, I don’t have personal experience of this, only professional.

wondering if any one has gone bankrupt as a sex worker and what your experience was ?
The thought of bankruptcy is extremely overwhelming for me and add declaring what I do for work is even more daunting!
The possible bankruptcy will be due to negative equity in a property I use solely use for work (I don't live there ) so I guess I will have explaining to do while I am paying for 2 properties.
mortgage , service charge , bill increases and work decreasing / perimenopausal issues means I just can not keep up with the incall property bills any more along with overdrafts /credit card debts I really feel the burden. X

I have no experience with declaring bankruptcy as a sex worker but my boss declared bankruptcy, so I can tell you a little about her experience.

She was a financial analyst and took a loan from a high street bank.  She couldn't make the repayments due to personal choices around men.  The bankruptcy meant that all her assets were stripped and her bank accounts closed.  She was unable to have any "freedom" in her spending as her creditors had first dibs on her money and her life was overshadowed by an allowance to live on; she had no credit cards at all.

The bankruptcy lasted for ten years and she says it was the worst decision of her life!  If she could rewind time, she would have chosen another option or come to some sort of financial plan with her creditors.

The most devastating aspect was that she could no longer work in any job that required a background check or any financial roles, as they required a credit check.  She also couldn't just start up her own business as she had to get the court's permission.

I am sure you have done your homework and had advice so I will only say good luck to you and hope everything works out for the best.