DRO and assets?

Halcyonman

I'm a full-time mature student and live with my partner. I'm hoping to see a CAB advisor next week about a DRO. I owe around £12,000 but I'm concerned about what counts as assets. Is a DRO like Bankruptcy where 'tools of the trade' are exempt from being counted as assets. I'm on a IT course so I have a bigger-than-normal computer which I need for my studies. I also have a car that I need to get to the University that has a market value of < £1000. Also are my assets assessed on their own or will my partner's and my assets be assessed together?

fiveyearplan

Hi and welcome Halcyonman! Your assets will be assessed on their own and most normal household items will not be included. Only if you have big screen plasma, expensive jewellery, sports cars etc. I wouldn't even mention your computer.

debt_doctor

If you have any asset that you could sell and obtain £300 for (car £1000)then you cannot have a DRO.

That computer could easily skip your mind in the big scheme of things:rolleyes:

DD

Halcyonman

Thank you for all your responses, very helpful. I'm back at University on the 28th of this month. I've gone through my budget time and time again and myself and my partner are now and will be within the normal expenditure limits. I'll apply in October and report on how it goes for the other students out there who are considering this route.