Selling a few bits on EBay

ascot64

I'm a newbie so please be gentle.

Can't say too much about my situation yet but I expect to be BR in the next couple of months. The debt will be very large as it is related to a failed partnership business.

I have a fair bit of stuff I could do without to be honest and have started thinking about having a bit of a clearout using Ebay.

No individual item is likely to fetch more than about £100 except for my rower which I will probably get £750 for. In total we are looking at about £1500.

If I sell these items now I can clear the OD on my personal account and then run it in credit. Or would it be better to put it into a new account and hand it over to the OR when it all happens.

I would prefer to sell them myself to maximise their value. I realise that once BR they wouldn't be taken but as the main creditor will be HMRC I worry about them using distraint just to teach me a lesson even though the total value is a bit like a drop in the ocean!

Dez-Titute

Hi ascot,

Sell the rower and use the proceeds towards your BR fees.

Hold on to the rest and sell bits adhoc to supliment your living expenses during BR

Cheers DEz

Billy_Liar

Is it always good to be totally honest? Well, I had one item of some value (hundreds of pounds), which I declared on the BR forms. Thought I had to simply because I'd tried to flog it on ebay a few months earlier and I reckoned they'd want to see records from ebay and paypal. Of course the item is eventually going to go to the OR's people (when they get round to collecting it). Forgot to put paypal account on BR forms, but owned up to it in OR interview. OR said he wasn't interested as it was offshore. So I needn't have bothered admittimg to valuable item and could have stashed it away for a rainy day. My guess is that it's all down to the luck of the draw with the OR you get. Paypal account is still functioning fine, linked to cashminder account and cashplus mastercard. Ho hum... BL

ChampagneCharlie

BillyLiar
You mention a cashminder debit account + visa - who provides these and are they available to BR's?

Dez-Titute

I think what CC is getting at is do your bank statements show credits/debits to your paypal account ie a paper trail exists.

bubblegumm

Billy_Liar wrote: »

Forgot to put paypal account on BR forms, but owned up to it in OR interview. OR said he wasn't interested as it was offshore.

Just read this... does this mean the OR's have no interest in PayPal accounts or whats in them??

tigerfeet2006

If your statements just show some bits and pieces like clothes that you have bought and sold on ebay then the OR will not be interested. But if he sees a whole business then he will be interested.

Billy_Liar

All I can say is that I told my OR about the PayPal account and he wasn't even interested in seeing it. It could have had thousands of pounds on it for all he cared. He said it was based overseas - they are in Luxembourg, I think, or Leichtenstein - so he had no interest. Was ready to do some explaining as I'd bought something quite pricey from ebay on behalf of my kid who had been saving up but was obviously too young to do the bidding. Reckoned OR might have thought I was trying to pull a fast one (which I wasn't) but he didn't care.
CCharlie - Cashminder is basic (Visa Electron) account from Co-op bank, Cashplus is pay-as-you-go mastercard. You can find it by Googling Cashplus. Am hearing good things about the PayPal PAYG card, though
BL