Forms question re: Assets

MammaCas

Morning!

Well all the 'easy' bits on the forms are completed, so now for the tricky ones :eek:

Under 'assets' it lists stocks, shares and investments - well my company 'give' us a small amount of shares each year, so I have a 300 shares which are not available for me to cash until July/August so at the moment they have no value - what do I put? The current 'market value'?

Thanks in advance, please don't all switch off computers....:D

MC x

dalip

Can not answer your question mamma but just wanted to say "morning to you" too.:p

seven2seven

Good Morning (well afternoon actually).

List them , you can explain that they are not available for sale until July/August. They are an asset though . My view is , if the OR has no interest in them then all well and good. If the OR thinks you are hiding stuff (remember they can see all your bank details , tax , etc....) then you could be opening up a hornets nest. So , be honest , give everything over you think they need and just wait and see.


Whoops .......almost forgot , yes I would value them at todays rate , thats all you can do. The OR will know these prices fluctuate.

JCS1

MammaCas wrote: »

Morning!

Well all the 'easy' bits on the forms are completed, so now for the tricky ones :eek:

Under 'assets' it lists stocks, shares and investments - well my company 'give' us a small amount of shares each year, so I have a 300 shares which are not available for me to cash until July/August so at the moment they have no value - what do I put? The current 'market value'?

Thanks in advance, please don't all switch off computers....:D

MC x

It is highly likely that the OR will sell these shares, with the funds going to your bankruptcy estate. Explain during your interview that they cannot be cashed until summer (guessing under either an Employee Profit Share Scheme or Employee Share Option Programme).

MammaCas

JCS1 wrote: »

It is highly likely that the OR will sell these shares, with the funds going to your bankruptcy estate. Explain during your interview that they cannot be cashed until summer (guessing under either an Employee Profit Share Scheme or Employee Share Option Programme).

Thanks. I have listed them, current market value is £500 and they are a staff incentive type thing, form part of the 'benefits' package my company offer.

If the OR sells them they will be able to give my creditors £1 for every £1000 I owe :rolleyes:

JCS1

Won't even go to your creditors, OR fee (which is £1,715) gets paid first.