what can you keep?

file_wizzard

smcaul wrote:

I will no doubt get flamed for saying this, but as you are not yet BR can you not transfer the cars into a family members name and just say that they are loaning you the cars to help you out, or even that they purchased them from you? Same with any items you want to keep, just put them round someone elses house and get them back when it has all died down -not very legit I know, but at least you will be keeping the items that you need.

The OR would see straight through this, and the consequences of lying to him/her are exceptionally serious.

Also providing the car is not a top of the line new BMW or something else with a high value then the OR will take the fact that you need a "reliable" car to get to and from work, the OR is not there to make you life hard, they are just there to ensure that as far as is reasonable practicable that everyone’s interests are served. i,e your creditors get what they realistically can from your estate, and that you can continue to survive and provide an income for yourself and your family ( if applicable)

They will let you keep a tv / dvd / video providing it is not a 3k 50” Plasma and a 1k home cinema with surround sound and free popcorn machine !

smokey112

Paul

As other people have stated your goods will be okay.

We where declared BR on 27/10 last year - we filled out our forms on 7/10 and the went to court that week - due to backlog it took nearly 3 wks to been seen (we are in Scotland) - our intial forms stated we had £28 in the bank which was true. When we had our appointment with our Trustee we had nearly £1000 in the bank - this was ours to pay mortgage, car loan and secured loan - he was not interested in this

all he asked was - do you have an valuables - no - do you have any savings - no - do you have anybody who can pay your debts for you - emm no.

It was a hard decision for us to make - but in the end the correct one - we are sleeping at night - not scared to answer the door and the postman doesn't have a sore back delivering our mail

HTH

Ang
x