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Contemplating options including bankruptcy
s8nbam
Posts: 35 Forumite
Hi Guys.
I am contemplating various options including Bankruptcy.
However my case would be quite complex.
2. issues being:
1. My current car which is registered to me, was purchased of a friend, whom i still owe money to. It is valued at over 3000. could this go?
2. My sister had gotten divorced, soon after she purchased a property to let out. However she didnt want the ex husband to know so she asked if i could purchase it on my name. At the time my financial position was stable, however things are coming to head. She transfered £50,000 for me to make a cash purchase however Natweast bank had an issue with such large sums of money being deposited to my account (£5k installments) over about 15 working days. They said they would have to report me for financial irregularity and money laundering, the only way to get out of this was a mortgage, like an idiot i did just that.
ANyways, 4 years on i also have my own property on my own name. I have £20,000 worth of equity in it (which was created by raising a deposit of the sisters property, to initially buy my own property). Essentially it works out to a 100% mortgage.
So as you can see the things will get complex. Does anyone know a solicitor or a organisation help me come to a decision on what to do?
I am contemplating various options including Bankruptcy.
However my case would be quite complex.
2. issues being:
1. My current car which is registered to me, was purchased of a friend, whom i still owe money to. It is valued at over 3000. could this go?
2. My sister had gotten divorced, soon after she purchased a property to let out. However she didnt want the ex husband to know so she asked if i could purchase it on my name. At the time my financial position was stable, however things are coming to head. She transfered £50,000 for me to make a cash purchase however Natweast bank had an issue with such large sums of money being deposited to my account (£5k installments) over about 15 working days. They said they would have to report me for financial irregularity and money laundering, the only way to get out of this was a mortgage, like an idiot i did just that.
ANyways, 4 years on i also have my own property on my own name. I have £20,000 worth of equity in it (which was created by raising a deposit of the sisters property, to initially buy my own property). Essentially it works out to a 100% mortgage.
So as you can see the things will get complex. Does anyone know a solicitor or a organisation help me come to a decision on what to do?
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Comments
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Hi, I have sent you a PM.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0
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