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| The independent answer to your debt problems | login join |
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tutorlanw
| 01-03-2010 07:58 PM |
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Joined: 01 Mar 2010 Posts: 1 | Hi I currently have over £70,000 in unsecured loans. I am on the verge of having a decree or inhibition on my home. I am 14,000 in negative equity because of a secure loan and current market. I have a disposable budget after all my expenses of around £500pm. I qualify for a trust deed. However. My question is this. I was gifted, along with my two sisters, my parents house 5 years ago. My share is around 40k. I do not show up on the title deeds when a search is done, though I am on the sasine register for that particular address. A creditor would need to actually search that address to see my name but there is nothing to connect me with it. Do I need to disclose this asset, as I see no reason why anyone would know I was a part owner of the house? I do not know the depth of checks creditors will do. I really do not wish to have my parents involved!! What would be the ramifications if it somehow was discovered A: before the TD or B: during? I know its not entirely ethical, but its my parents asset. They gifted it to us incase the went insane, we were all against it!! Wish they hadn't now. Any advice appreciated |
