Assets Help

greyrainbow

I have had mixed views from StepChange and another debt advisor - basically I have a fairly new laptop, it's about 8 months old. SC said to put what I THINK it's worth, but the other DA said I don't need to put anything as it won't be worth anything really? I can't see that's true. I want to be honest, but can I search places like eBay to see what it could potentially sell for - and put this on the application form? I think I should put things like my TV, and PlayStation but they are old and somewhat faulty (the screen on the TV has shadowing) so no idea what to put.
I also have a collectable which I think is worth about £150, but it's hard to say exactly. I put a few hundred from one account into a new one, it's my normal budget money, but is this an asset? 
I am worrying to be honest as I don't want to make a mistake and in the future someone thinks 'well actually you should have put X' and I get into trouble.
I'm applying for a DRO - apologies I am really worrying and my anxiety is really bad at the moment.
Thank you. 

sourcrates

Hi,

You appear to be way overthinking things here, none of that is neccessary, no one physically comes and checks anything, so you do not have to list your assets, and certainly not for a DRO, not unless you have a piccasso or two hung on your wall, normal household goods, iphone/laptop/tv no one is bothered about, you can have a £1000 in assets anyway, remember, second hand goods are only worth what someone is willing to pay for them, usually next to nothing.

Simply concentrate on listing your debts correctly, and making sure your disposable income limit is met, thats all you need to concern yourself with.

greyrainbow

Thank you again, sourcrates!
Yes am absolutely overthinking things - I just want to make sure I do the application correctly and then the anxiety kicks in and I can't help it (wish I could to be honest, it's definitely not helping). 
So would putting the collectable (which I think is about £150), and the laptop - leaving out TV and PlayStation be OK do you think? On the StepChange form there is a box to list assets (which includes iPad in the list as an example).

luvchocolate

I only think they look at anything that has a resale value of plus £1000
I know of one poster who had to hand over their engagement ring.
I certainly didn't list any household belongs just my car. 
My examiner was brilliant and moved things around up and down so no IPA. 

greyrainbow

Thanks, luvchocolate.
I definitely don't have anything worth over £1,000 - no car etc. I think I shall put the laptop on the form, because that's bothering me, even if they don't do anything (I found someone sold a like-new one for £300). The collectable is £150 at most.
I actually don't know where my engagement ring is (I think it cost £200?) - I wear my wedding ring which my mother gave to me, it was hers, but have no jewellery worth much (only sentimental anyway!)
Do you get someone specific to speak to once application with StepChange has gone through? I feel like I need to explain my situation to someone (or maybe that's my overthinking again!)

sourcrates

Yes but this is a DRO, not bankruptcy, I listed nothing for my assets, it was not questioned, your assets are not seized or sold under a DRO, so it’s pointless putting them down, unless as I said, they total over £1000.
If your asset value goes over the limit, you won’t qualify.

greyrainbow

Thank you - very good point about bankruptcy and DRO. I understand. 
I can't thank you all enough - my anxiety is still high (I don't think that will change until it's over and I get help for it as a MH issue) but honestly you have really helped me and it's seriously appreciated I feel a bit more relaxed  

fatbelly

I hardly ever put assets on the forms.
If the client volunteers the information then I do but most times they don't own anything worth anything.
As a rule of thumb the value of a used item could easily be a tenth of what it cost new

greyrainbow

That's interesting - thank you!
The info has really helped me out, I realise that actually I don't have anything worth over £1,000 or even close to going over so won't concern myself too much. Thanks, all