Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
wellynj
Posted - 29 April 2009 : 21:21:16 i have some seroius dept to my name and have a family to support , my wife is working but i am on benifits, is there anyway i can put the house in my wife name an go bankrupt, i have two children to look after? thanks nigel
2 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 29 April 2009 : 22:53:25 As Chester says you would need to declare any interest in a property within the last 5 years and this likely would cause a proble.
Incidentally the 5 year rule probably wouldn't apply here as technically the OR can overturn any transaction ( irrespective of time) if at the time of the transaction the party was insolvent and the objective was to put the asset beyond the reach of the creditors and / or Official Receiver.
There are several soultions to debt, bankruptcy is only one of them, and it would be really good to get some advice.
Please post a little more information here on the forum listing the debts ( secured or unsecured ) the assets such as house ( mortgage outstanding and current value) , car, endownent etc etc etc .
Posted - 29 April 2009 : 21:26:26 Firstly welcome to the forum Sadly the answer is no ,not unless you are going to wait 5 years as any assets like a house have to be declared if disposed of within 5 yrs
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!