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Jamie-Law
Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 5600
Experience:  Solicitor
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I owe hmrc money for unpaid taxes over a period of about

Resolved Question:

I owe hmrc money for unpaid taxes over a period of about 5years due to low earnings, I've been in touch with them many times and told them my situation, but now their taking me to court on 12th Oct, to file for bankruptcy, even though I spoke to them last week and offered them a small lump some and try to make some sort of payment plan, but they declined, am now worried that they might make me sell my property.
Submitted: 1 year ago.
Category: Law
Expert:  Jamie-Law replied 1 year ago.

Hello my name is ***** ***** I will help you with this.

How much do you owe please?

Customer: replied 1 year ago.
25000.00
Expert:  Jamie-Law replied 1 year ago.

Ah I see. Is there any equity in the property?

Customer: replied 1 year ago.
I think about 50-60 thousand.
Expert:  Jamie-Law replied 1 year ago.

If you are made bankrupt then a restriction is placed on your property.

The Official Receiver will then take control of your assets.

If you can repay the debt plus costs then your house will not be sold.

If you can get a re-mortgage then your property wont be sold.

If you cant raise the funds then your property will be sold. That can be realised with equity to pay off your creditors.

I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
Can I clarify anything for you about this today please?

Customer: replied 1 year ago.
Would it be to late to adjourn the hearing to give me time to raise the money, it's set for 12th Oct.
Expert:  Jamie-Law replied 1 year ago.

You can try but generally this would only be if you had a realistic prospect.

Does that clarify?

Customer: replied 1 year ago.
Ok, thanks very much.
Expert:  Jamie-Law replied 1 year ago.

If I could ask you to rate my answer before you go today, by clicking on the 5 stars or happy face, otherwise the site does not pay me for the time spent with you today. Thank you in advance and good luck!

Customer: replied 1 year ago.
Ok
Expert:  Jamie-Law replied 1 year ago.

Thanks!

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