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T O P I C R E V I E W
aly4
Posted - 09 June 2009 : 12:51:38 Hi I need to go bankrupt as soon as possible. I am really worried though as i sold my house nearly 5 year ago to a company that gave me only 85% of its value. I had to sell it to pay off a 'loan shark' so i have no proof of what i used the money on. Would i be asked about this in my bankruptcy proceedings? I am very frightened and embarrassed about this. Any advice you can give me would be so greatley appreciated. Thankyou
1 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 09 June 2009 : 13:11:22 The OR will want to know the details of any properties you sold within the last 5 years so you will need to declare the property unless you can delay the BR until the 5 year period has past.
The SOA also asks for the value of the property, when the property was sold, who you sold the property to, any profits and the solicitor involved.
I am not too sure exactly how much interest the OR would take in the property.
When is the 5 year period since you sold the property up? If you can hang on until then it will mean that you won't need to declare this sale.
