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 How long do I have to wait before I can sell my property without paying off creditors ?
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Starting Member

3 Posts

Posted - 11 December 2014 :  20:55:42  Show Profile  Visit Edward.s's Homepage  Reply with Quote
How long do i have to wait before i can sale my property and not have to pay off the creditors.


United Kingdom
4590 Posts

Posted - 12 December 2014 :  02:05:18  Show Profile  Reply with Quote
Hi and welcome.

The OR will have an interest in your property for two years and three months and could decide that you need to pay any beneficial interest to your creditors.

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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forum expert

United Kingdom
2211 Posts

Posted - 12 December 2014 :  03:59:01  Show Profile  Reply with Quote
Hi Edward,

The OR has 3 years to deal with the family home, but you can offer to buy back the beneficial interest at anytime after your bankruptcy.

Is there any equity? Have you spoken to the OR about your property?

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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