All Forums  archive  bankruptcy postbag for june  Help / Advice needed

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by bleedingheck[/i] [br]My parents have their own company and aren't LTD. They have serious cash flow issues due to a company witholding payment. They have mortgage arrears which we (the children)can pay and continue to pay until this all gets sorted out. Currently they have a large VAT bill outstanding, the overdraft is now maxed out as is the card. There is some equity in the house and i was wondering if the house got sold with one of these quick sale companies that buy for 75 - 80% of the current market value in order to clear the debts mainly the VAT and overdraft so that they get back to zero and start again, and subsequently there was more outstanding if they were then to go bankrupt would this be considered as a transaction under value? its an attempt to prevent the bankruptcy from happening? I hope this makes sense... [/quote]   Check here to include your profile signature.