My dad is intending to declare himself bankrupt he is a pensioner who has been blind for the last 5 years (which is why he has not be able work and pay his creditors). He lives with my mother in a rented council house. My mother is in full time employment and has paid for everything in the house - furniture tv etc. This means that my dad actually has no form of equity. How will this affect the case will they still take assets such as the tv even though he did not pay for them? Thanks for your help.
In all bankruptcies the OR will not take normal household items unless they are of a high value. Your parents needn't worry, their furniture and TV are safe.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
Is there any option for him other than BR? If the debts are not too high there may be other options to look towards. He may be able to get some written off through charitable support - RNIB if he was in the services, SAAFA and British Royal Legion.
You may wish to post a bit more detial and someone will be able to assist.
If BR is the only route, then he and your mother do not need to worry about day to day household possessions - unless he has a Picasso in the living room!!
My dad is intending to declare himself bankrupt
Posted - 25 November 2009 : 09:01:48
