What is considered an assett in Bankruptcy?

I_can_see_trouble_ahead

Just looking through the forms and wondering do i have to list my clothes books, DVD's, dvd player (worth about £20 now I reckon if that) etc...

Is there any advice sheets which tell us what we need to list and what is not considered an assett in bankruptcy.

Thanks in advance for any replies

RichesToRags

As a general rule it's anything with a re-sale value of £1000 or above. Car, home cinema system, antiques, big fat diamonds and not forgetting that gold bullion stashed in the cellar.....

You don't need to list your household items unless they have a high re-sale value and cetainly not your clothes and DVD's, unless maybe you have a wardrobe full of versace and your DVD's are made of platinum

dojoman

I did not list anything form my house as an asset.

callywally

So you dont have to list everything in your house?

Have nothing worth 1000 not even the car is worth that!
I thought you had to list everything and OR decieded what they were going to take.

One less thing to worry about!

confused76

you would still need to list your car, even if under £1000...everything else under £1000 they're not interested

dojoman

confused76 wrote: »

you would still need to list your car, even if under £1000...everything else under £1000 they're not interested

Thanks confused, have amended my original comment as it was misleading:o

I_can_see_trouble_ahead

Thanks all, That makes it so much easier. Thought I was gonna have to list my odd socks and all? What a Plonker lol.....;)

immoral_angeluk

Not unless you have a 60 inch LCD lol