Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By mabbs
#954 I'm trying to work out what items of mine I should include on the Statement of Affairs form in the Assets section. The only major things of value I own are my laptop, Car (both of which I need to work), HiFi, TV, DVD, video recorder (worth about £150 between them). Bar these everything else like clothes, books, etc, wouldn't be worth a lot, how far and in to how much detail should you go when listing your assets? What items, or value should you leave off?

Cheers

Paul
ByDavidc
#956
mabbs wrote:I'm trying to work out what items of mine I should include on the Statement of Affairs form in the Assets section. The only major things of value I own are my laptop, Car (both of which I need to work), HiFi, TV, DVD, video recorder (worth about £150 between them). Bar these everything else like clothes, books, etc, wouldn't be worth a lot, how far and in to how much detail should you go when listing your assets? What items, or value should you leave off?

Cheers

Paul

with regard to household effects simply list none. I would not mention the laptop as if you do you will in all probability lose it. Whether you require the car for work or not, dependant on it's value it is at risk. If the OR can raise money from it's sale and provide you with 4 or 5 hundred pounds to buy a runaround that is all you can expect. At the OR interview when they go over your assets I simply replied nothing of any value. normal household effects are not what they are looking for, unlike bailiffs who will take everything.
David
By mabbs
#977 Surely, as I could not work without my laptop, I thought they don't take tools or books associated with your job? or am i wrong?
ByDavidc
#981
mabbs wrote:Surely, as I could not work without my laptop, I thought they don't take tools or books associated with your job? or am i wrong?

If you can make the case you are correct but why make things overcomplicated. If it is not on finance. Second hand at auction it is not worth anything. What would you give for a second hand laptop at auction?
David
User avatar
By Nicky
#983 It's very unlikely that your OR will be interested in your laptop. Especially if you use is for work. As David said, for what it's worth at an auction, its not really worth their time.

If you need to be sure about things to stop you worrying, go with what you think you should tell them, otherwise, you will be causing yourself unnessary stress wondering if something is going to come at you later on. It's best to be as open as possible, then you know you have nothing to hide. :wink: