Assets (To Sell?)

peterkay369

Hi all,

Just a quick question, I'm starting the bankruptcy process soon and will have to tell the OR about my assets. I do have a couple of low value assets for example PS3 and a few games, old iPod etc that will be worth maybe £200 in total. I don't think the OR will be interested in these to be honest and as I have no use for them, am I allowed to sell them after becoming BR? From what I understand I am allowed, but I will have to declare the money to the OR as a windfall and they'll then make a decision whether they're interested in it or not?

Thank you!!

philnicandevan

K22SR wrote: »

Hi all,

Just a quick question, I'm starting the bankruptcy process soon and will have to tell the OR about my assets. I do have a couple of low value assets for example PS3 and a few games, old iPod etc that will be worth maybe £200 in total. I don't think the OR will be interested in these to be honest and as I have no use for them, am I allowed to sell them after becoming BR? From what I understand I am allowed, but I will have to declare the money to the OR as a windfall and they'll then make a decision whether they're interested in it or not?

Thank you!!

Usually anything that will fetch at least £1000 at auction is the only was an OR would be interested in assets.....you will be fine to sell what you mention as long as you keep sale receipts and sell them for market value (dont give things away for less) you should be good

NotEvanAPot

Be open with OR about lower value assets on application, they will then send a letter detailing no interest after BR date.

You can then sell and not have to declare anything.