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.
if wanting to declare bancrupsy
Posted - 09 November 2009 : 10:41:45
