Advice Please

[Cant Get Right]

Ok, my aunty needs to sell her feild as she may have to go Bankrupt. She has missed one loan payment so far but can see it coming to bankruptcy in the long run. Is it possible for her to sell the feild now for a penny so she can keep it?????? Heres how this has came about, a good few years ago my uncle died, house all got paid off blah da blah da blah, everything was paid off. she met a guy a couple o years later that she fell head over heels for, problem was although everyone else saw he was a rat my auntie didnt, long story short now, he has took her for everything, loans in her name, mortgage etc etc all her responsibility now cos he has fooked off and stopped paying things. Can anyone pass some advice over to me. She wants to keep the feild cos it has no mortgage, she has a caravan on it she can live in, and she loves her horses which are her life

[darkdezigns]

i did the bankrupt thing a few years back,get her to sell field,caravan and horses to you,but it has to look like a sensible amount

[Cant Get Right]

i did the bankrupt thing a few years back,get her to sell field,caravan and horses to you,but it has to look like a sensible amount

So couldnt she just sign it over to her son for nothing?????

[darkdezigns]

So couldnt she just sign it over to her son for nothing?????

generally no cause when u do go bankrupt,all your affairs are taken over by the insolvancy agency including bank account,and if they look back and see it was sold for nothing to family they will take it all back

[darkdezigns]

also if she drives,make sure its an old banger otherwise they will take that too,and even then she must prove she needs the car

[Cant Get Right]

Well unfortunately i dont have a few K sitting about to buy her feild, bummer, well at least i know what to tell her now, great. At least it is better news for her than she first anticipated, she thought she had lost everything already. I hope things come back to hit the bad sod on the head

[darkdezigns]

find sumone outside the family u trust,get them on paper to buy the feild for a couple of hundred,they must be outside the family tho,if she gets quizzed then she sold it for bills/food,also is caravan in her name?if not again get it in sumone elses same with horses etc

[Diezel Weazel]

Chris ya may get a feel for how or what will/may happen from The Citizen's Advice First, for now (don't be too specific tho, ) give em eg: Scenario
Things may differ up there as to England/ish Law.
Good Luck

There's always a Payback .... Don't know where n don't know when tho !!!!

[stormforce]

Also Chris before bankruptcy look into an administration order.This is done through a court and i think you need to owe about 5000 but at least it won't affect the credit rating etc and your aunt still gets to keep everything.

She will need to go to a local court to speak to someone but what happens is that she takes a list of all the debt and who its with.The courts then sort out the administration order.Your aunt will pay a certain amount a week but the court fees are paid first before any creditors.It may take 3 years to pay the court fees(only example) then once they are paid the the creditors start to get their money.
Mandy was advised to take one out 15 years ago by c.a.b and she got about 4-5k debts and it worked out better for her as she wasn't black listed.All payments go through the court.
Mandy paid £40 a month on hers.
Hope this helps as an alternative to going bankrupt

[lord lucan]

sweaty socks have different laws to us

[Albannach]

Remember Scottish laws on Sequestration are different to English Bankruptcy laws.

[Albannach]

IIRC, any large assets sold or transferred in the past year will be investigated. So the assets can be sold, but only for the market value. There is no guarantee she'll lose anything, there is also no guarantee she'll keep anything. All depends on who she owes, how much she owes, who her Accountant in Sequestration is and her specific circumstances.

[Mitsy]

Were is this ####### now mate and if i had the money i would do it for her.

[Cant Get Right]

Kinda expected most o these answers, specially us Scots having blooming different laws, Typical. I wish i could get involved to the extent o giving the guy a good hiding, but its the aunts problem and she dont want me involved to that extent, plus if anyone should do anything it should be my cousin. Also, i have a house a mrs,2 beautifull kids and a business to run, All contribute to me not wanting to be a bad boy

[Albannach]

Even if she is made bankrupt, she may get first dibs on buying the stuff back. I got to buy my car, tools and camera gear (£3k worth) for £500. It's more than they'd have got at auction.