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Selling an Asset before disclosure

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readyplayerone
Posted by
Junior Member

04 Feb 21 #515651 by readyplayerone

Topic started by readyplayerone

I have received Decree Nisi. Attended MIAM for financial settlement. We have yet to declare our outgoings, assets etc and mediate.

I am about to start a new job which comes with a company car. Therefore, I no longer need my existing car, worth 11,000 and I have found buyer. This would also clear the outstanding debt.

Am I OK to proceed with the sale of this asset? It is not malicious, and would also reduce my outgoings, insurance, tax etc.

Thoughts welcome. Thanks in advance.

wikivorce team
Moderator

04 Feb 21 #515652 by wikivorce team

Reply from wikivorce team

As long as you don't irresponsibly dispose of any of the 11K raised from the sale then you should be OK.

You can put some of the 11k towards debt and declare the remainder in the financial disclosure.

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Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11

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