My parents are separated. My father has an addiction and he is in a lot of debt due to that addiction.
I am not too sure what exactly the details are. The second home is gone to a vulture fund. The family home where my mother is, is caught up in his debts.
My father has an insolvency practitioner. I don't know how much he is dealing with the practitioner due to his addiction.
What happens during insolvency?
Are all assets taken and sold?
I want to get a loan and make an offer on paying down on some of the debt in exchange for the family home to be signed to my mother.
Would a plan like this work?
I am meeting next week.