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Share in Property
Cejay28
Posts: 3 Newbie
Hi
I am considering bankruptcy as i cannot see any other way out of my situation.
Problem is 5 years ago I bought 10% (worth about 17k)share in my mothers property, to release some equity for her... Will she be forced to sell her home. Really appreciate some advise
I am considering bankruptcy as i cannot see any other way out of my situation.
Problem is 5 years ago I bought 10% (worth about 17k)share in my mothers property, to release some equity for her... Will she be forced to sell her home. Really appreciate some advise
0
Comments
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Is there anyone who can buy your share from the OR?Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
No not really, I do not want my Mum to know i am in difficulty. I got into this situation as I split from my partner of 17 years an moved area, took a 8k cut in salary and now find i cannot keep up with my credit card payments..0
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I presume the property still has equity in it?
The OR would want to release that to pay your creditors and BR admin costs.
I'm not the best person to ask about complicated property matters, but unless your interest can somehow be "bought out", I would think the OR would go after it. Looking for a sale if that is the only way?Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Thank you..I thought that would be the case. Will trundle on for now and maybe try for a DMP, so that Mum can livethe rest of her years without worry.0
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