bankruptcy

[lucian123]

bankruptcy does the asset have to be sold

[Ethel]

If that is the only way to pay the creditors, yes.

[ummmm]

Yes. So put it into someone elses name before. Like everyone else does

[shomer42]

Not all assets are sold. House hold items are usually excluded, also excluded is a car if you need it for work. look at the insolvency.gov.uk webiste for more info.

DO NOT transfer assets into someone elses name prior to bankruptcy without relaising that if you get caught you could be penalised and made bankrupt for longer.