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Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. If you take this course of action and sign the property to your parents for nil value, and you go bankrupt within 5 years, your trustee in bankruptcy or the official receiver will be able to potentially reverse the transaction. Does the property have a mortgage? Does it have any equity? Kind regards AJ
Hi, Thank you. Will the property remain in your house? Kind regards AJ
Hi, Thank you. You can try gifting it to your parents, but if the bailiffs have seen that you have done this to avoid paying your creditors they are unlikely to accept. You can take other action - you do not have to let the bailiffs in for example. Also they are not allowed to take everything, food and basic furniture they cannot remove. When are you expecting the bailiffs to arrive? Kind regards AJ
Hi thank you. Are any of the items exceptionally valuable? Have your creditors petitioned for your bankruptcy? Kind regards AJ