Insolvency Practinoner

Mummy_george

Is there a minimum amount a asset has to be worth before it is transffered from the OR to a insolvency practinoner?

any idea how long it is before Insolvency practioner makes contact?

debt_doctor

Hi,
For a house to attract the services of an IP there would need to be a minimum of £10 000 equity. Less than 10k equity would generally bring a charging order which would attract interest at 8% per year.
The OR has up to 3 years to decide what to do with the property.
DD

Mummy_george

thank you its way under that so assume its the OR that it will be passed to, to deal with it rather then the examiner thanks