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T O P I C R E V I E W
BahBah75
Posted - 15 August 2012 : 21:25:39 Hi I am after some advice regarding my parents.
6 years ago my parents sold their house which was in joint names and purchased their next house in my Mums name only as they were worried about debt collectors.
They sold this house and moved again and the 2nd house was purchased in my Mums sole name about 3 years ago and my Dad has paid off most of the debts e had and has had it under control.
Last week he was diagnosed with Cancer meaning he will have to give up work, this will leave a problem as he owes the inland revenue a chunk of the remaining debt and before he was diagnosed was paying it to avoid them making him bankrupt.
My Mum is worried the I/R will make him bankrupt and she will have to sell her house, I have also seen though that the official receiver won't look further back than 5 years (the house has not been in joint names for 6 years) is this correct?
Want to try and help put her mind at ease and just concentrate on looking after my Dad.
Any help would be appreciated.
Thanks
Jamie
4 L A T E S T R E P L I E S (Newest First)
Niobe
Posted - 16 August 2012 : 20:38:21 Good luck and let us know how you get on with them,
BahBah75
Posted - 16 August 2012 : 20:34:02 Many thanks all and for the best wishes! I will take mum to the CAB I think! Thanks again
Viki.W
Posted - 16 August 2012 : 10:23:57 Hi BahBah75,
Sorry to hear about your Dad.
If the OR thinks that your Dad has an interest in their current home, then he may pursue it and want his share of any equity.
Please ask your Dad to seek advice immediately from CAB or an expert on here.
