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 Can I sell my property for its current market value

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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.
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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.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/

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