no way of paying this debt off in my lifetime

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steve4

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Post by steve4 » Sun Jan 20, 2008 11:46 am
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if made bankrupt would my tv and dvd player be classed as assets or will i be allowed to keep them
i owe £20,000 bank loan now since my wife died i only have one income from the state income support.
i am disabled and mostly house bound ,there is no possible way of paying this debt off in my life time.
so is my on luxury at risk or will i be trapped in my home without my tv and dvd .
please could you advise
thank you
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Beechy

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Post by Beechy » Sun Jan 20, 2008 11:50 am
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Hi Steve
Dont worry you will not have your TV and DVD player taken.

Unless it is something very special interms of value.

Do you have any assets for example, do you own a car, house etc?



Dave Beech
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Skippy

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Post by Skippy » Sun Jan 20, 2008 3:06 pm
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Hi Steve, don't worry, the OR isn't interested in general household items like TVs (unless it's a 60" plasma that you bought recently on credit!) and DVD players.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/
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steve4

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Post by steve4 » Mon Jan 21, 2008 12:25 am
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Beechy wrote:

Hi Steve
Dont worry you will not have your TV and DVD player taken.

Unless it is something very special interms of value.

Do you have any assets for example, do you own a car, house etc?



Dave Beech
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steve4

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Post by steve4 » Mon Jan 21, 2008 12:30 am
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Thank you too everyone who took the courtesy to give me advice.
the main worry is that my tv is a 42" plasma tv and a bose home dvd system that was the last thing me and the wife bought together
before she died in oct 2006so i dont want to lose it .
is bankruptcy the best way out as i said i owe 20,000 to hsbc by way of a loan taken out over 3 years ago.
my only income now is income support and dla,
yes i have a car but this is a lease one from mobility.
once again thanks to everyone for there advise
steve
Last edited by steve4 on Mon Jan 21, 2008 12:31 am, edited 1 time in total.
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