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Help needed regarding Taxman please!
Missydoll
Posts: 5 Forumite
Hi, my partner has had a 15,000 tax bill which he cannot pay. He,s had a letter saying they are going to make him bankrupt on the 11th July. We have a joint mortgage which is paid off in 3 years time, can they take the house if it,s in joint names. Is there anywhere he can go to get some help with this whilst there,s still time, please has anyone got any advice?. Thanks
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Comments
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Hi Missydoll, yes they would be able to sell the property in due course, how much equity is there in it,and is there any reason why it should not be split 50:50Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Hi, There,s 3 years owing on the house, it,s worth approx 130,000. I pay for the mortgage & have done for the past 4years. Could I also ask if they,ll take the car as he uses this to travel to & from work which is all over the country?. Thank you for taking the time to reply0
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Hi Missydoll, i presume then that he has more than £15,000 as his share of the equity. If that is the case and he has few other debts then it makes no sense for him to allow himself to be made bankrupt, he may not have the cash to pay the tax debt but he does have the assets and as such it is always going to be cheaper for him to eith take a loan on the houseor sell the house himself and pay the debt. Have a word with national debtline or business debtline and they should be able to give you adviceHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0
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