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 Can I be declared insolvent even if I can pay the money owed ?
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Sebatane
Starting Member



1 Posts

Posted - 04 February 2014 :  22:42:27  Show Profile  Visit Sebatane's Homepage  Reply with Quote
Can I declared insolvent even if I can pay the money owed can they sell my property ofR800000 for owing R21000

Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 05 February 2014 :  07:35:24  Show Profile  Reply with Quote
Hi,

Have you spoken to the creditor to pay what you owe?

What country are you in?

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
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Niobe
Administrator



United Kingdom
4590 Posts

Posted - 05 February 2014 :  08:03:07  Show Profile  Reply with Quote
I wonder if it could be South African Rand?

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant


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Blackie
forum expert



United Kingdom
565 Posts

Posted - 05 February 2014 :  12:45:59  Show Profile  Visit Blackie's Homepage  Reply with Quote
Hi Sebatane

Certainly not in this country because from what you are saying, you are not Insolvent. However the currency to which you refer is obviously not UK sterling and your country will have different Insolvency laws. We need to know the country in which you live.

For help and advice on the easiest and most effective way to a debt free future, please telephone me on FREEPHONE 0800 298 0253
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