I have around 20k in unsecure debt and no assets. However 5 years ago my dad died. He did not have a will (intestade) however owned 50% of a property with his brother. Now my 2 brothers and sister all in theory have a share in this, although the land registry documents remain in my fathers name. We have tried to sell the propert however my uncle keeps saying he will pay us the money which is around 100k. However this has gone on 5 years and is still on going, we can not sell the property or get our money. If I go bankrupt will this have to be declared and will they hold me in to my bankrupsy until it is potentially paid ( who knows when)?
I think you will have to mention this as by rights you & your siblings have 1/8 share of the equity each & this is an asset. Any idea how much money you are talking about? If it is 20,000 or more you could maybe manage to avoid bankruptcy & get a charge placed on the propery instead?
I have around 20k in unsecure debt and no assets.
Posted - 21 October 2009 : 18:10:45
