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T O P I C R E V I E W
Sara.sl
Posted - 15 November 2010 : 15:18:23 Hi I wonder if anyone can help.
I have been advised by the CAB to declare myself bankrupt. I have no assets but, a few years ago I bought some foreign currency (which is non-tradeable at the moment) as an investment. The currency is of little value at the moment but could increase in value in the future. Would I have to declare this on the bankruptcy forms. It could be cashed in and would realise around £1K.
This investment is my only hope of becoming solvent in the future so I really want to hang on to it. I have been told that it could happen quite soon, if that were the case then I would be in a position to pay off all my debt.
Thanks.
4 L A T E S T R E P L I E S (Newest First)
Sara.sl
Posted - 17 November 2010 : 07:27:23 Hi
Thanks for your replies, I thought that would be the case.
I have spoken to CAB and my creditors and have decided to postpone the BR for the time being in the hope that things may improve over the next few months.
Thanks again.
gettingoutofdebt
Posted - 15 November 2010 : 18:12:29 Yep, the cash will need to be declared.
debtinfo
Posted - 15 November 2010 : 17:40:40 The fact that you think of it as an investment tells it all really
charlie44
Posted - 15 November 2010 : 15:40:03 If you go BR then you will have to disclose this cash.
