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| T O P I C R E V I E W |
| TAZ |
Posted - 17 April 2010 : 10:35:44
I was made bankrupt on friday. I was quite surprised how easy and painless it was, i know it will get a harder when i deal with the OR but if anyone is thinking about doing it there is nothing to fear about the court date |
| 4 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 18 April 2010 : 07:24:47
not quite, you dont have to declare any household goods worth less than £500. All other assets you have to declare regrdless of value, for instance you may have £50 of premium bonds |
| TAZ |
Posted - 17 April 2010 : 22:54:08
I have not much to hide, i have a car worth about £2700 and a house with about £5000 woth of equity in it.On this forum i have been told told i dont need to declare anything under £500 as a asste is this true? |
| gettingoutofdebt |
Posted - 17 April 2010 : 15:56:20
Try not to worry about the OR, they look very closely at your finances but, provided you are honest and upfront with them, they are fine.
If you forget about a creditor and they find out about it then there isn't a problem but if you try and hide something they will really look very closely at your financial history and it may result in a BRU (Bankruptcy Undertaking), which would increase the time the BR restrictions apply. |
| Housing |
Posted - 17 April 2010 : 13:10:56
Thanks for the post Taz.
Hope it will put others minds at ease.
I wish you well with your interview with the OR and post back if you need help.
My regards, Richard
"There are no problems - only solutions" |
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