which assets will be taken

pammie39

hi guys, this is my 1st visit to this foram (use iva foram alot for advise).

please help.......both myself and OH have iva's. OH now redundant, he is thinking about going BR, i'm worried about what assets will be taken!!!!
we own a house,(poss no equity), own 2 cars (1=£1000, 2=£400). i work full time and still wish to keep iva contract.

what will they think off taking please?????

many thanks

nervousmother

if you need your car for work it will be safe, if you house is in negative equity you should if you want to be able to keep it.
They will take items of value worth over £500 but not things like sofas..
will take antiques expensive jewellrey and high value plasma TV. most house things are safe,

maxmycardagain

i kept my telly...

philnicandamy

ahh but....bet you aint got one of these?

nervousmother

what is it?
banana dog??

philnicandamy

its a super lamb banana....i've a scaled down one in the garden (I forgot to tell the or)

peachyprice

The only things they take are generally cars houses and expensive items which would fetch over £1k at auction.

If the house has no equity they won't take that.

If your OH needs his car for work they won't take that, they won't take your car at all.

No-one will come to your house to see what assets you have, and the only assets the OR will know about are those you put on your forms.

HTH

pammie39

thank you guys (or dolls)

my house can only be sold privately due to the type of building it is.
my OH will need his car for future work and as for me, it costs more in bus journeys so my car is needed.
my TV isn't as good as yours, :T
i have NO banana dog either:rotfl:
i really dont think with have much single items at the £1k mark, even this computer is old!!!!!!!!!

cheers people, now to decide what would be best for him!