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Britainsworstdriver

Bankruptcy England & Scotland

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This is a question on behalf of my neighbour. I don't have all the info by a long way, but would like to offer her advice.

 

Basic situation: Renting (privately). Up to date with her rent, utilities etc. Unsecured debts of £27k via bank loans, credit cards etc. She is in arrears with all her loans and is battling with them over minimum payments etc.

 

She is thinking of filing for bankruptcy. She lives in England. She is unemployed now.

 

Her Father wishes to give her a flat in Scotland that he has owned for years, he rented it out until recently. it is now empty. It willl become her property, paid for.

 

If she files for bankruptcy in England and subsequently gets this flat, what are her options? Should she stay in England until the BR expires, or move to Scotland. In both cases how does the flat fit in? Flat is worth around £50k.

 

I just want to point her in the right direction.

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Regardless of which side of the border she lives in, the flat would become an asset, which would be taken into account. It may be wise to go through Bankruptcy in her current situation and keep the property in her fathers name until after discharge.

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Hi,

 

Tell her to go BR as things are - she has no assets and should be discharged within 1 yr.

 

She can certainly move to scotland and live in the flat - not a problem there but under no circumstances get the property put into her name until the OR no longer wants a chunk of her assets - otherwise they'll just force a sale/charge on the property.

 

i'm no expert in BR but know that sometimes the OR holds an interest in future earnings/assets for 5 years. Flag the thread with the mods and hopefully someone with a little more knowledge can help.

 

meerkat xx

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