dro ASSETS?

samperry209

Hey guys

Im asking this question on the behalf of my mother shes not quite clear on the assets part? what do they class as assets? also i live in the same home will my poccessions be affected!?

Thanks

sam

jenny_13

Does she own anything worth over £300? Things like jewellary, bikes, pensions, savings etc.

It won't effect you only your mother. Does she meet the rest of the criteria?

samperry209

What about plasma telly?

jenny_13

I'd say yes as it's an asset as she could sell it. For more information have a look here

http://www.insolvency.gov.uk/bankruptcy/DRO/debtors.htm

samperry209

Yeah she read that...Found it confusing as to what they classify as ASSETS but i think i get it now...ASSETS are the persons property that is worth 300 or more..

jenny_13

That's correct, good luck to her and I bet she's glad of your help.

samperry209

Yeah well the CAB advised her to do this... But i feel its risky if the court dont accept it after 12 months shes gonna be like meat to a pack of wolfs... CCJS u know