Will they take my stuff if my husband goes bankrupt?

howdumbarewe!

My husband is seriously considering going bankrupt. He doesn't have anything of any value so they wouldn't want anything he has. I haven't got anything of much value but what I do have is important to me and has taken years to collect. It's just my record collection, my collection of wrestling figures, some elvis stuff and some John Wayne stuff. The most expensice thing I have is an elvis pop-art print that a relative bought me a couple of yrs ago for about £50ish. I've also got quite a few cds & dvds. Also our kids both have tvs in their rooms (just small ones, one my nan bought daughter for xmas 3yrs ago & other had been in the loft for yrs).

Also he has a car which we bought a yr ago it is worth £2000 ish but we owe my nan the money for it. What can we do with regards to this? Could he put it in my name? would they check up on it? Can we swop cars legally without any comeback?
Any advice appreciated.
Thanks

wherediditallgo

Hi

No-one will be coming round to take household items of that sort from you. The OR would only be interested in things with a reasonable re-sale value, so the TVs, cds etc are safe. No-one comes to your home when you go BR unless the OR feels something underhand might be going on, & even if he thought that he still wouldn't be interested in those items. He'd be more interested in plasma tvs, antiques, valuable jewellery, etc.

You might have a problem with the car though. People seem to have problems once the car is over £1,000 in value, & although people have been allowed to keep cars that are needed for work purposes or are to transport members of a large family or a disabled person, there have been incidents of people being expected to sell the car & get a cheaper one. I don't have a car so I don't know all the ins & outs of it, but if your OH is planning on going BR in the near future I would strongly advise against changing ownership on the vehicle. ORs can check a lot of things, & I wouldn't be surprised if they could check the ownership history of the vehicle. If they discover the name has been changed, it will look very suspicious & like your OH has been trying to hide an asset. The OR can impose penalties for doing that, & I don't think it would be worth taking the risk. I suggest your OH ring one of the organisations in my signature for advice (he should be doing that anyway, as the court/OR will want to know he's taken professional advice) - they don't charge, & they'll be able to tell him where he stands with the car.

tigerfeet2006

Hello Howdumbarewe and welcome to the board. WDIAG's advice is spot on. Your first port of call is the debt charities, we will offer all the support we can and answer any questions we can.

The car is a difficult area. It depends wholelly on your OR. Some seem fine with a car worth £2000 espepcially if it is estenial for things like work, note I said essensial not convienient. Others get funny and want you to get rid of cars worth less than a grand. If it turns out you are going to have a problem there is a lot of advice here to help you save it if at all feesable

Oh! and for the record I don't think you are dumb

tigerfeet2006

ts_aly2000 wrote: »

The legal owner and the registered keeper are two different things.

Surely the car belongs to your grandmother seeing as she paid for it. You haven't paid for it so legally she owns it.

Hmm! that may be an idea. Though some OR's are happy with a car worth £2000, it very much depends on the OR. Though if you can make a very good case for keeping it ie:it would be impossible to get to work if you didn't have it because the public transport system is !!!!!