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jeff.info
Starting Member
1 Posts |
 Posted - 21 December 2009 : 19:59:02
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| if I file bankruptcy based on my credit card debt and my house is 100% own by my son - will be debts be passed to him? I have no assets to repay debt but he does and I don't want him to lose his equity or life savings? |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 21 December 2009 : 20:25:18
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Hi and welcome,
Who owns the house at the moment?
If you are planning petitioning for Br and have passed an asset to someone at nil cost or below the market value, you will be found out by the OR. I am not moralising as it is, of course, nothing to do with me, but just a warning.
The Official Receiver has access to more records than you can imagine and can interrogate bank accounts to find things out. As an officer of the court, they can seek records that will uncover any tracks.
I am not 100% sure what you are asking so if my response is off beam, I apoligise - just a friendly word of caution.
If you post with a bit more detail, maybe someone can assist you - nobody on this site will help you break the law though.
I hope this assists, Richard
"There are no problems - only solutions..." |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 21 December 2009 : 20:40:43
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Hi Jeff
welcome to the forum
Housing is right to offer you words of guidance we are all here to help each other and this forum is good to pose the what If scenarios.
you have given just a snippet of information, but for anyone to give any suggestions or help with your scenario you may have to provide a little more info
how long ago did you pass the property to your son ?
do you live in the house with your son, any other family members at home ?
are you still working ?
what age bracket are you ?
jeff we are all here because we want to help and offer options to you, if you want to post further FANTASTIC
if you do not feel comfortable yet about posting all of your details in an open forum then please contact one of the experts, they i am sure will be able to you
regards Richard P |
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if I file bankruptcy based on my credit card debt
