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[05omegav6]

What constitutes assets?

If renting, it goes without saying that the house isn't on the list, but where do low value cars stand?

Only items I own are:
1x 270k mile twice Cat C explod estate, value worthless?
1x 178k 3.2 Elite Estate, no Mot, value?
1x 10 year old TV, value £0
1x 10 year old dvd player, value £5?
1x 10 year old stereo, value £20?
200 cd/dvds value?
Tools value ?

Basically my immediate concern is the value of the cars... Is the white one actually worthless? And how would the unroadworthy one be valued? Would it even be considered an asset?

[Jimbob]

Probably £300? ish scrap value each  IF taken into account of which I have no idea.

[deviator]

Do you mean bankruptcy? Or an IVA? (Individual voluntary arrangements)

[RobG]

http://www.stepchange.org/BankruptcyGuide/Bankruptcyandmycar.aspx

[05omegav6]

Bankruptcy, hence the use of the word...

[btc]

If I remember this right from my brother's you can keep 1 car up to the value of £1500 (needed as a means to get to work )

[btc]

You also have to surrender all bank and credit cards to the court

[tigers_gonads]

What constitutes assets?

If renting, it goes without saying that the house isn't on the list, but where do low value cars stand?

Only items I own are:
1x 270k mile twice Cat C explod estate, value worthless?   Not interested
1x 178k 3.2 Elite Estate, no Mot, value? not interested if the value is less then around 1500 quid
1x 10 year old TV, value £0 not interested
1x 10 year old dvd player, value £5? not interested
1x 10 year old stereo, value £20? not interested
200 cd/dvds value? hide them
Tools value ?  all tools which you need for work cannot be touched

Basically my immediate concern is the value of the cars... Is the white one actually worthless? And how would the unroadworthy one be valued? Would it even be considered an asset?

[/Unroadworthy one is scrap value and wont be touched b]



I went through this a few years ago Al and have a wealth of knowledge on the subject.
If I can help in anyway, give us a shout via pm and if need be, i'll give you my mobile number and we will have a chat.

[deviator]

Bankruptcy, hence the use of the word...

I only asked for confirmation to give you the right advice.
Have a read
https://www.moneyadviceservice.org.uk/en/articles/options-for-clearing-your-debts-england-and-wales

[05omegav6]

Bankruptcy, hence the use of the word...

I only asked for confirmation to give you the right advice.
Have a read
https://www.moneyadviceservice.org.uk/en/articles/options-for-clearing-your-debts-england-and-wales

Completed a provisional questionnaire with Stepchange earlier, and bankruptcy was the only outright solution that they could suggest

[moggy]

What constitutes assets?

If renting, it goes without saying that the house isn't on the list, but where do low value cars stand?

Only items I own are:
1x 270k mile twice Cat C explod estate, value worthless?   Not interested
1x 178k 3.2 Elite Estate, no Mot, value? not interested if the value is less then around 1500 quid
1x 10 year old TV, value £0 not interested
1x 10 year old dvd player, value £5? not interested
1x 10 year old stereo, value £20? not interested
200 cd/dvds value? hide them
Tools value ?  all tools which you need for work cannot be touched

Basically my immediate concern is the value of the cars... Is the white one actually worthless? And how would the unroadworthy one be valued? Would it even be considered an asset?

[/Unroadworthy one is scrap value and wont be touched b]



I went through this a few years ago Al and have a wealth of knowledge on the subject.
If I can help in anyway, give us a shout via pm and if need be, i'll give you my mobile number and we will have a chat.

Absolutely TG,went though this my self.Only interested in proper assets,home villa abroad,50 k Winnebago.They are not interested in cars,unless its a 8 mill sports car.

[05omegav6]

What constitutes assets?

If renting, it goes without saying that the house isn't on the list, but where do low value cars stand?

Only items I own are:
1x 270k mile twice Cat C explod estate, value worthless?   Not interested
1x 178k 3.2 Elite Estate, no Mot, value? not interested if the value is less then around 1500 quid
1x 10 year old TV, value £0 not interested
1x 10 year old dvd player, value £5? not interested
1x 10 year old stereo, value £20? not interested
200 cd/dvds value? hide them
Tools value ?  all tools which you need for work cannot be touched

Basically my immediate concern is the value of the cars... Is the white one actually worthless? And how would the unroadworthy one be valued? Would it even be considered an asset?

[/Unroadworthy one is scrap value and wont be touched b]



I went through this a few years ago Al and have a wealth of knowledge on the subject.
If I can help in anyway, give us a shout via pm and if need be, i'll give you my mobile number and we will have a chat.

Thank you Steve

[moggy]

You also have to surrender all bank and credit cards to the court

No you don't you just cut them up,and not use them again.From the day you file.Dean.

[tigers_gonads]

You also have to surrender all bank and credit cards to the court

No you don't you just cut them up,and not use them again.From the day you file.Dean.

But what you do do is draw the money off the credit card in CASH first to pay the bankruptcy court fee's 

[tigers_gonads]

What constitutes assets?

If renting, it goes without saying that the house isn't on the list, but where do low value cars stand?

Only items I own are:
1x 270k mile twice Cat C explod estate, value worthless?   Not interested
1x 178k 3.2 Elite Estate, no Mot, value? not interested if the value is less then around 1500 quid
1x 10 year old TV, value £0 not interested
1x 10 year old dvd player, value £5? not interested
1x 10 year old stereo, value £20? not interested
200 cd/dvds value? hide them
Tools value ?  all tools which you need for work cannot be touched

Basically my immediate concern is the value of the cars... Is the white one actually worthless? And how would the unroadworthy one be valued? Would it even be considered an asset?

[/Unroadworthy one is scrap value and wont be touched b]



I went through this a few years ago Al and have a wealth of knowledge on the subject.
If I can help in anyway, give us a shout via pm and if need be, i'll give you my mobile number and we will have a chat.

Thank you Steve

No worries bud