what will they take ?

andrewwales666

Hi all
i intend to apply for bankruptcy soon and need to know if they will take all of my pocessions or will they leave me some furniture to live with,ie beds and 3 piece suite etc
thanks
andrew

woodformoretrees

They will leave you with your living furniture. The items that they would take would be high value stereo/televisual equipment or antique/designer furniture.

If they could sell an item of your furniture, replace it with a piece that does the job, and still have reasonable money left over from the sale - that's what they would be interested in.

They will not be interested in utility furniture (which is how I described our manky old stuff when I was asked)

If you do have furniture that's of high value then don't think about selling it prior to your bankruptcy. Just accept that it will help pay your creditors.

GazHatesBanks

andrewwales666 wrote: »

Hi all
i intend to apply for bankruptcy soon and need to know if they will take all of my pocessions or will they leave me some furniture to live with,ie beds and 3 piece suite etc
thanks
andrew

Nearly everything is safe - the only exceptions are any high value items (usually where the value is over £1000) and if you have a car you will need to to be able to justify keeping it under BR (e.g travel to work).

TheGardener

andrewwales666 wrote: »

Hi all
i intend to apply for bankruptcy soon and need to know if they will take all of my pocessions or will they leave me some furniture to live with,ie beds and 3 piece suite etc
thanks
andrew

You may have got the wrong end of the stick here - the OR does not want your furniture and TV (unless it is Chippendale seriously luxury stuff!!) The BR process is not like a bailiff coming to take your goods - that completely wrong.

The OR is only interested in assets that can be disposed of like valuable jewellery, art works, expensive cars etc. Your domestic furniture or tools of your trade are of not interest to them at all.

Read the stickies on this board and they will give you a better idea of what BR is about.

andrewwales666

thanks for those reasuring messages,my furniture is old and so is the tv so dont think they will take it now.