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.
Hi I am after some advice regarding my parents.
Posted - 15 August 2012 : 21:25:39
