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T O P I C R E V I E W
Sheila.ba
Posted - 28 January 2010 : 08:05:01 What happens to my sons assets ie.motorbike and car if we declare ourselves bankcrupt, we live in the same house and he is a student
1 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 28 January 2010 : 08:28:15 Bankruptcy only affects the person who declares BR and not other people who live at that address so your son's assets will be fine.
I take it that your son bought the bike and car and you didn't buy them for him? If you bought them for him then you would be considered the owner (even if his name is on the registration docs) and they could be claimed as assets by the OR.
