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T O P I C R E V I E W
Ann.35
Posted - 14 September 2011 : 06:06:07 Can I sell my property for its current market value to pay of mortgage & family debt(there will be nothing left,possibly even still owe money after solicitors fees etc) then take out an IVA/Trust Deed or be sequestrated for what I owe in unsecured loans. And how can I prove I owe my family these funds.
1 L A T E S T R E P L I E S (Newest First)
Viki.W
Posted - 14 September 2011 : 07:28:06 Hi Ann,
No, you can not repay family if you are insolvent as you are favouring one creditor over another.
How much is the family debt? What was it for and was it a transfer into your account from theirs?
I suggest you speak to an expert to chat this through.
