Bankruptcy - What will they take?

minkys28

I have no savings, no job, no car, no house (i rent with 4 other people) and i definatley dont have expensive tvs or anything like that so what would they take to pay money back?
I have been with my partner for quite sometime but we are not married, can they make him pay money he has saved by himself to them?

tigerfeet2006

They won't take anything from your partner, they are your debts. No one will come to your house and take anything. Most household goods are exempt, the OR is only interested in things that will make £1k plus at aution.

Have you spoken to any of the debt charities yet?

minkys28

Hi Tigerfeet,

No I havnt spoken to anyone yet as I am not sure what is happening as this is a legal matter so I am not sure if I will be forced into bankruptcy as yet or if insurance is going to cover this.

I am partly wondering if I should file for bankruptcy myself but other than a few credit cards which are very small the only debt I have is this work related debt.

I am just trying to find out what will hapen should it happen.

Fingers crossed it wont.

Thanks

tigerfeet2006

Hope it all goes well for you.

minkys28

Thank you me too. I just really need advice to see if it will be inforced in NZ. But even my lawyer dosnt seem to know. lol

tigerfeet2006

Give the New Zealand Embassy a ring on Monday and ask

http://newzealand.embassyhomepage.com/

fiveyearplan

Can I ask what the work related debt is and are you self employed?

minkys28

Hi there, sorry I cant really discuss it because its a legal matter now. All i can say is I owe my ex employer money that I cannot pay back and possibly are going to liquidate the company and the accountants will possibly make me bankrupt. Im sure you can kind of understand the nature of this.
No I am not self employed. Thanks

fiveyearplan

Well if they liquidate I'm not really sure if they can force you to pay up anything.

minkys28

Oh really? I had a meeting with the accountant who are looking to liqudate the company and hey said if i cannot pay they will force me to declare bankruptcy? I am so confused, my lawyers dont seem to know anything about this either. Oh dar :O(

fiveyearplan

Are you saying you had a meeting with their accountant? I think he is trying it on using DCA tactics. Without knowing what the problem is its really hard to say. If you want to pm me more information I'll be glad to help in anyway I can, that way it won't be on an open forum. Please try not to worry - I really don't think you have anything to worry about.