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Debt Destroy

Can The Creditors Siphoned The Money From The Proceeds Of Property Sales?


inai Rep Points: 955
Posted on April 8, 2009 at 3:33 am
I have some outstanding debts which are dormant as I have not been updating it for years due to some financial problems am facing.  Since the economic situation is not getting any better, I am in dire need of  finance to see me through in my daily life.  I am thinking of disposing  a piece of my property and in fact there is a buyer who is interested.  Since it is a million dollar deal, I need to know whether the creditors would be able to sniff my windfall and lay a claim on my money?  How to make the transactions invisible to all those creditors as I need to plan out properly how to settle my debts when all the money is in proper order in my keeping.

inai Rep Points: 955
Posted on April 8, 2009 at 7:23 am
alensort, you gave a valid explanation though have not given me the answer to my question. I know I have been bad with my finance all these years which have seen me in the red of late.  I would like to know whether any possibility of the creditors chasing after the cash that I am about to receive from the proceeds of my property sale.