assets

debrag

what are classed as assets?

I have no house or car but do have stuff like TV, DVD, Laptop, DVDs, CDs etc

I am privately renting, can I go BR the same time as starting to claim benefits? thanfully my landlord takes housing benefit.

Also what happens about the fact that I am in a shared property?

deedee_3

Items that will make a least a £1k at auction. Like that super duper 50" TV you have on the wall or maybe the Old Master in the loft are counted as assets, along with houses and cars.

Yes you can claim benefits and go bankrupt with no problem.

It is not a problem if it is a shared property, presumably you have a tenancy agreement.

Make sure you have taken advice from one of the debt charities as well.

debrag

well I have a 19" flatscreen HD TV and a really crappy PC, loads of CDs & DVDs though.

Is it a case of they have to prove whats mine? what isn't in my room isn't miine etc

tigerfeet2006

You don't need to list anything on the form then and no one will check unless they think you are telling porkies. So don't worry about it.

sententia_2

don't worry I was pretty much in the same position regarding assets. i declared nothing of value (tv, computer etc). Had to declare car as that's a separate question on the form. When I had the OR interview they just asked whether I had any assets worth over £1000 to which I said no. I was allowed to keep the car for work. Just don't declare tv, puter etc.