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INC Law
INC Law, Solicitor-Advocate
Category: Law
Satisfied Customers: 14255
Experience:  LL.B, LPC, LL.M, Pg.Dip, Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
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I need advice on debt. My son owes a lot of debts up to

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I need advice on debt. My son owes a lot of debts up to £30,000+ and his name and my name is ***** ***** property. He also has a guarantor of £26,00 out of that £30,000+ debt but I'm not the guarantor. Also his debt has gone into debt recovery now because he's not paying his debts. My main two concerns are that these debts might be put on my property while my son's name is ***** ***** the legal document of the property. But, I'm the one paying everything. My second concern is that the guarantor he used be chased up on paying the £26,000 or will it be put on my property. This is what I need help on please.
Assistant: Where are you? It matters because laws vary by location.
Customer: London
Assistant: What steps have you taken so far?
Customer: Nothing yet
Assistant: Anything else you want the Lawyer to know before I connect you?
Customer: That's it

Hello, this is Jim and I am a dual-qualified lawyer (UK & Republic of Ireland) happy to help you this evening.

The fact your Son is on the deeds to the property is a problem. The reason being if his creditors sue him, they will get a CCJ (county court judgment). One way of enforcing a CCJ is to put a charge on a property - meaning the property proceeds would be paid to the creditor who placed the charge on the property. A creditor who has a charge can also apply to the court to force a sale if they want their money sooner though the court would take in to account a number of factors before agreeing to an order for sale (e.g. there needs to be equity in the property, if there are minors in the property, etc). The guarantor could also sue your Son and do the same thing - if he has any assets or his name is on any deed then that property is at risk if he stops paying or is unable to pay. The other problem is bankruptcy and if a creditor applies to bankrupt him - the Official Receiver would take in to the account the property. So it's wise to agree to remove him from the deeds.

I hope this helps? If you would kindly leave me a 5 star rating (at the top of your screen), any follow up questions are welcomed and I will be credited for helping you today.

Many thanks,

Jim

Customer: replied 2 days ago.
The property is a right to buy which is not up to 5 years yet, am only 2 years and 6 month into it
Customer: replied 2 days ago.
How can I take him off the property with this issue. I don't kno

It looks like you clicked the call request button - apologies I can’t take a call at the moment but other experts are free to contact you. If no one calls you then you will not be charged for it - an "authorisation" has been made for payment, that's all. However, the call request is open to all experts - if you want to cancel the call then please send an email to [email protected]. I can continue with the question online if that suits?

I'm not a property/conveyancing lawyer so you would need to ask one (can you confirm if I answered the question about the charge as per your initial question)?

Customer: replied 2 days ago.
I have sent the message
Customer: replied 2 days ago.
Will this work in right to buy? Cause have just look through the link but that doesn't explained right to buy property when it's not up to 5 years yet. Will I be able to take his name off now?

I am not a property or a conveyancer - this is now outside my area of expertise. I will therefore opt out to let another expert assist you with your question going forwards. Please do not reply to this message as the question will stay with me and there will be a delay with the reallocation.

Many thanks.

Hi,

Thank you for your query. Would you still like assistance with this?

INC Law, Solicitor-Advocate
Category: Law
Satisfied Customers: 14255
Experience: LL.B, LPC, LL.M, Pg.Dip, Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
INC Law and other Law Specialists are ready to help you
Customer: replied 2 days ago.
Yes

Hi,

I have accepted your call request. I will be available for a call from 08:00am tomorrow morning.

Kind regards

Customer: replied 2 days ago.
I don't want a call request
Customer: replied 2 days ago.
I was chatting with some1 and I was told to chatt with sm1 else
Customer: replied 2 days ago.
Please cancel the call request.
Kind Regards