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l.l
Junior Member
United Kingdom
171 Posts |
 Posted - 25 March 2008 : 00:25:44
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they all say you lose posessions in bankruptcy, i know the obvious but can you define what they will take, i have no antiques or anything, just nice evryday furniture,jointly owned , tables and chairs, sky boxes and a 52" plasma tv thats 2 year old, will they take joint owned things even though i have 3 small kids and a wife, what exactly do they take i am a bit confused by that bit, i know the obvious.
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AlanO
Junior Member
United Kingdom
259 Posts |
Posted - 25 March 2008 : 01:08:23
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Hi I.I
As mentioned in my earlier posting best to review matters fully before you jump into bankruptcy.
However general household possessions are not usually at risk - 52" plasma? and Sky would be an item of personal choice expenditure when revieing income and expenditure ( the boxes carry no secondhand value)
all the best alan
www.debtdr.co.uk |
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melanie_giles
Senior Member
1191 Posts |
Posted - 25 March 2008 : 01:36:40
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It is unlikely that any of those items would be affected in bankruptcy as, although they probably cost quite a bit when they were purchased - on credit?? - they are not worth much on a second hand basis.
The OR might take the plasma screen simply to make an example of you, I have seen this done with IT and photographic equipment historically. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 25 March 2008 : 08:48:30
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Hi l.l
I agree with melanie in that I have also seen expensive household items - purchased on credit or with a credit card - taken away for sale.
They will clearly not fetch much at auction however it is the point of continuing to benefit from ones creditors that they are trying to avoid.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 26 March 2008 : 09:30:48
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Hi l.l,
I agree with Melanie and Paul, in that your general household possessions will be safe.
All the Best
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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losing posessions in bankruptcy
