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

Moderators: TalbotWoods, JaneClack

Byohmygood
#3450 if you go bankrupt, what assets do they take? i have no car and i rent my property. Could they take my daughters computer?
ByDavidc
#3452
ohmygood wrote:if you go bankrupt, what assets do they take? i have no car and i rent my property. Could they take my daughters computer?

As a rule of thumb. The OR will ask you to provide a copy of your certificate of household insurance at your interview, which will detail items of special value.......if you have nothing listed there then the answer is that you have no assets of any interest...
David
Last edited by Davidc on Sat Jan 29, 2005 5:36 pm, edited 1 time in total.
User avatar
ByJaneClack
#3457 and you daughter's computer is hers so would not be part of your "estate" anyway. So no problem there!
ByPineapple
#3463
Davidc wrote:
ohmygood wrote:if you go bankrupt, what assets do they take? i have no car and i rent my property. Could they take my daughters computer?

The OR will ask you to provide a copy of your certificate of household insurance at your interview
David


This didn't happen with me. The examiner just looked at my forms.
Bychivasgirl
#3473 On our household insurance policy (in husband's name) we have a cd and vinyl collection listed. We have sold alot off in the last months, average £3 each(!) but didn't even think about the fact we'd got them listed on our policy until I looked at when sorting out the papers to go with my bankruptcy petition. I was going to phone to ask them to reissue the papers with the cds unlisted, as there is no point in insuring what we have left. I then had a rethink because a new policy would probably show that it was reissued, and the renewal date is going to be only a few months on, so it would be obvious to the OR surely that the policy had been changed. If they asked for a copy of the previous policy (whether from us or the insurers) it would show the cds, so thought that honesty was the best policy.

My intention is to leave the policy as it is and advise the OR that the number is half, and of that half, half of those are mine. He would be welcome to most of my cds (according to my husband) but not entirely sure they'd even want them!! Or would it be better to have the policy reissued with the reduced number of cds and take copies of both policies along with an explanation. They'd still get about 100 cds if they really wanted them.
User avatar
ByJaneClack
#3478 OK - they come to your house to collect the CDs and then store them and then sell them at auction? How much is this going to increase your bankruptcy estate - very little. You really are not going to lose these. You just tell the OR you realised it was not worth insuring the CDs as you were trying to save costs. They break you know - even though when the first came out people said they didn't. These are not antiques.
ByDavidc
#3480
Zadie06 wrote:
Davidc wrote:
ohmygood wrote:if you go bankrupt, what assets do they take? i have no car and i rent my property. Could they take my daughters computer?

The OR will ask you to provide a copy of your certificate of household insurance at your interview
David


This didn't happen with me. The examiner just looked at my forms.


Well I did say as a rule of thumb......having a quick look at your insurance cover, which was on the list of forms for you to produce at your interview is cheaper than arranging a home visit...
David
I note that a post following ours confirms that these documents are, as I stated required.......
Who is online

Users browsing this forum: No registered users and 1 guest