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If i owned a house before going bankrupt but sold it to my dad can they still go after it? - Bankruptcy UK

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If i owned a house before going bankrupt but sold it to my dad can they still go after it?

Not if you sold it at true market value, as this would rule out selling an asset at undervalue. However, they would want details of the transaction as any profits will be attached and distributed among your creditors. If the property was sold under the true market value, the Insolvency Service would try to recover the difference from your dad. If he didn’t cooperate the IS would petition the Secretary of State to force a sale. In other words, think carefully before making any decision.

Call us on 01425 600129 / 07479 739139 / 07894 481175 with any further bankruptcy questions or information on how to go bankrupt. Our advisers are not scripted and will gladly explain everything in easy to understand terms.

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Bankruptcy UK

Bankruptcy UK