after bankrupcy

guineacat

my daughter is trying to sell her house and wants to privately rent afterwards if she is successful she then wants to leave it a few months and then declare herself bankrupt will it be allowed?she intends to pay a large amount up front for the rent.and she won't actually come away with a lot of equity from the sale anyway

mazzatee

Hi guineacat

Please advise your daughter to take care if considering this action. Many of the companies out there will take advantage of the situation and basically "rip heroff."
They will offer only about 60-70% of market value (and that might be an optimistic figure) and she will then be an assured shorthold tenant, who can be given 28 days notice to quit the property and there would be little she can do.

Before she considers this why doesn't she get some advice from one of the feee charities such as CCCS 0800-138-1111 or go online www.cccs.co.uk) to access their debt remedy, National Debtline 0808-800-4000 or your local Citizens Advice

ClaireLR

She needs to be very careful - this could be classed as disposing of assets for less than their true worth and could land her in hot water with the OR.

When you say she wouldn't come away with a lot of equity, how much are you talking about? If it's only going to cover a couple of months rent/deposit etc then I can't see a problem; it's if she comes away with a few thousand that they will start to ask questions.