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T O P I C R E V I E W
Ann.35
Posted - 13 September 2011 : 14:08:24 Hi there a few questions for you. Thanks 1) Can family debt be included in bankruptcy
2) If not can I sell my property and use these funds to clear my family debt and Mortgage and then take an IVA or go bankrupt for my credit cards and loan.
3) What will happen to the shares I hold. Some are actually my families but held in my name. They are worth very little at the moment and this is why I can sell the ones I own to clear my Credit Cards and Loan(that was the reason I purchased them through a work scheme)
5) In your advice it says you can release equity on your property. How does this work as it say a family member can but the property back for £1.
Thanks for your time and look forward to hearing from you.
1 L A T E S T R E P L I E S (Newest First)
Viki.W
Posted - 13 September 2011 : 14:34:56 Hi Ann,
Yes family debt can and must be included in bankruptcy so don't pay anyone back.
Any shares will be claimed in the bankruptcy.
How much equity is in your home as this will be at risk.
I suggest you contact an expert for a chat and have all of your options explained.
