| T O P I C R E V I E W |
| Butterlicious |
Posted - 09 November 2009 : 11:33:19
I'm considering bankruptcy due to a variety of life changes outside my control, and I haven't been able to find an answer to this question yet.
This may be a silly question, or you may think it's trivial, but I'd like an answer anyway just to put my mind at rest.
I own a *lot* of DVDs - over 500. The majority of them are worth about a fiver or less, but I have a few boxsets that are now worth around £40 or so. For the sake of argument, let's say they average out at £10 each. Would the court look at that as 500 items that are not worth selling due to their low individual value (£10 each) or would they look at it as a singular entity and say it was worth seizing as a "job lot" (£5000)?
As I said, I realise this is not the most important thing to most people but I would like a serious response because the thought of people coming over and gutting my house is an upsetting one.
Edit: I've just thought - are the courts concerned with actual resale value? The reason I ask is that the majority of the DVDs are not in English and will not work on a UK DVD player, so their value in a general auction would be greatly diminished as even if people did have the right equipment to get them to work they probably wouldn't understand the language they were in anyway!
I would like to apologise again if this seems like an unimportant matter to most; if it helps, try to imagine the thought of losing every book you ever enjoyed reading or every album you ever liked, that might make my worries a bit more relatable. |
| 7 L A T E S T R E P L I E S (Newest First) |
| Housing |
Posted - 11 November 2009 : 16:57:16
Hi again,
All experiences are different - some do not even see the OR examiner.
This may make you laugh... I am wanting to know if I have some sort of record - I saw an examiner for 1 hour - 2 hours on the day I filed the BR petition - I had my proper interview and that was all day - almost 10 hours!! Do not let that deter you - he was like a son to me - he had tissues and said call me XXX (his first name) - I may have a third as I recently took in three more ctates of files etc - They have been great though - I hear that some people have a half an hour telephone conversation and that is it.
DO NOT WORRY - just relax and co-operate and be HONEST - forget the DVDs - you will not be treated like a stupid child as you put it - despite the fact that they have the interests of the creditors uppermost in their minds, they will see fair play - there are more BRs today than ever in history - no need to be worried or ashamed or any other such emotion.
I wish you well and ask more questions here, Richard
"There are no problems - only solutions..." |
| Butterlicious |
Posted - 11 November 2009 : 16:48:25
Thanks to you both for taking the time to reply - it helps a lot to hear that it's not something I'm going to be hauled over hot coals for.
If you don't mind me asking - what was the meeting with the OR like? Am I going to have to explain why I used my credit card on Amazon/eBay/wherever? My fear is that I'm going to be treated like a stupid child and asked to go into detail about why I took credit. Do they consider it unreasonable or irresponsible that credit was used to buy DVDs/books/CDs/etc? |
| Housing |
Posted - 11 November 2009 : 16:41:46
Hi
I agree, I am sure that the OR will not be interested in DVDs - I had 6 second hand Pc`s, a laptop and a whole load of "office" furniture - he did not want to know - I wish you well and try not to stress too much!
I am sure you will be fine - take your time to look at your options and the experts here are very good as well as those of us who are BR as we have the experience in advance of those going or thinking of going BR - ask lots of questions and it will help you...
Regards, Richard
"There are no problems - only solutions..." |
| Jane.l |
Posted - 11 November 2009 : 15:34:11
Don't even list them on your SOA
I too have loads of DVDs, we have laptops, computer, games consoles, I did not even think for one minute to list those items and the OR never said anything about them, even though the xbox was bought on a credit card as a gift |
| Butterlicious |
Posted - 11 November 2009 : 14:24:04
Just in case anyone else has a similar worry, this is the response I got via email from the insolvency service -
"A DVD would be included as a provision necessary to satisfy the basic
domestic needs of the bankrupt and his family. i.e Entertainment. A DVD
collection reflects the personal taste of bankrupt, and therefore would
represent little value to that persons Creditors." |
| Butterlicious |
Posted - 09 November 2009 : 12:40:14
Thank you so much for responding to my question. I was concerned that as they are not items necessary to my survival they would be considered entirely as luxuries and I would have to hand them over regardless of their actual worth. You've really lifted a weight off my shoulders - it may not seem like much but one less thing to worry about is quite a big deal these days :) |
| chester2005 |
Posted - 09 November 2009 : 12:32:17
hi and welcome to the forum
i would not worry unless your job is a dvd salesman, in reality the value of theses items would be more like £1 each and as such they would likely fall into the category of household items not to be declared separately on the forms i would not mention them or worry about them
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
