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eva
Junior Member
171 Posts |
 Posted - 06 July 2008 : 13:42:12
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Hi,
I am considering going bancrupt and have three points to consider regarding assets and the repossesion of those:
1.car, paid £950 for it recently private buy,I need it to transport my child 12 years old to and from music school, since she has a cello, which is quite heavy top carry on the public transport. I also will be teaching privately, visiting pupils in their houses, so I need a form of transport too. This car I have self-valued on the autotrade internet site and it came up to £2500, so I wonder if I will be able to keep it or what I should do?
2. my daughter was given money towards purchase of the piano which was bough two years ago for the £3000; she is in a music school and needs an instrument to practise daily; I have the letters from Trust (EMI Music Foundation) which gave my daughter founds to buy this instrument, so it really belongs to her, altough I did have to pay some money towards the full price. Will she be able to keep it or how do I go about the ownership of this instrument?
And lastly,
where can I download the bancrupcy forms and how many monthts bank statements are you supposed to show?
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melanie_giles
Senior Member
1191 Posts |
Posted - 06 July 2008 : 14:30:23
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Hi eva and welcome to the forum
1 Your car ought to be safe if it is needed for work purposes, but I am curous as to why you paid £950 for something worth £2,500. That is on the edge of whether the OR will allow you to keep it, so make sure you do put up a good case if this is questioned.
2 I do not think that the OR will be too interested in your daughter's piano.
The bankruptcy forms can be downloaded from the Insolvency Service's website. www.insolvency.gov.uk
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 08 July 2008 : 15:39:37
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Hi Eva,
I agree that your car and piano should be ok.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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assets and the repossesion of these
