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T O P I C R E V I E W
kevin70
Posted - 09 November 2009 : 10:41:45 if wanting to declare bancrupsy can the or take your belongings out of the house.
2 L A T E S T R E P L I E S (Newest First)
Niobe
Posted - 09 November 2009 : 10:58:37 Your belongings will be quite safe unless you have anything of any value.
If you do, then you would be expected to sell that and pay the money across to the OR,
The glimmer gets brighter all the time
Jan xx
Housing
Posted - 09 November 2009 : 10:58:29 Hi and welcome to the forum,
I am not a BR expert -other than I am BR!
There are exceptional circumstances where the OR can take valuables - a car that is too expensive or not necessary - can be sold by tender and the proceeds to go between the creditors.
If you have a normal house without Piccasso paintings of valuable antique furniture then you will, in all probability be able to retain what you have.
I am sure an expert will post with more detail.
If you are considering BR - think long and hard, look at options and consult an Insolvency Practice to get that advice - most offer some free advice - mine did. Also there are BR experts here on theis forum who will offer free advice to see what your best option is.
