will we go bankrupt

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wendy7

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Post by wendy7 » Thu Jan 31, 2008 12:05 am
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BEEN BANKRUPT 13 YEARS AGO.
HAVE DEBTS OF 29,000 HAVE EQUITY IN TWO PROPERTIES(NO PROFIT)OF 85,000 WILL WE GO BANKRUPT?
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MelanieGiles

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Post by MelanieGiles » Thu Jan 31, 2008 12:08 am
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Hi wendy and welcome to the forum

I hardly think that would be wise if you have assets of £85k and debts of only £29k. I suggest that you look to realise some money from the properties and pay off your creditors.
Regards, Melanie Giles, Insolvency Practitioner
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