DRO what can the reciver take ?

boycow

Hi all i am going for a DRO as i have debts under £15,000 i am paying token amounts to various companys my car is less than £1000 , what i want to know will they take my tv and pc i have just spent 3 years paying for will these be classed as assets i am disabled and can not work and it is my only form of shopping my pc and the tv my only entertainment thanks in advance

DeadTall

The Official Receiver does not seize any assets under a DRO. However you need to have less than £300 worth of assets in total to be eligible for a DRO. So, if for example, you have a plasma TV which is worth a lot more than this then you would not be eligible. However, my understanding is that TVs and PCs have low resale values, so you may be OK. You need to discuss this with the intermediary who processes your DRO.

boycow

Yes but who puts a second hand value to these items i went on 4 different car value sites and got prices from £155 to £1005 depending on condition , so how do they work out the value ? on a 3 year old tv / pc if they are sold i cant buy another how do i keep in contact with the outside world ?

fatbelly

If it can be valued on Parkers then it should be. But Parkers charge for (I think) pre-2002 cars so the DRO Unit allow other valuations. It doesn't sound like it is worth over £1000 tbh.

No-one's asking you to sell the telly. It's an excluded item on the Intermediary Guidance. The pc isn't explicitly excluded but honestly no-one's going to be interested in it

These assets would include items that have a resale value (the total proceeds that the debtor would receive if they sold the goods) that would impact on the overall asset limit, but do not include basic household items such as cutlery, crockery, cookers, televisions, beds or furniture. Therefore assets with a realisable value may include for example shares, stocks, premium bonds, antiquities, or collections etc.