www.iva.co.uk

Hiya, both me and my husband are about to go bankrupt-my husband first to stop a charge going on the house and the creditors forcing a sale of the house. The thing is we have a large-50 inch-rear projection tv, just over a year old. Will the OR see it as an asset? I've checked the cost of buying the same model and they can be bought for around £600. Any advice would be much appreciated

Hi
I very much doubt it,you will not get a home visit and the OR will rely on the info that you supply.
Second hand electrical items fetch very little at auction
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi Chris ... welcome to the Forum.

I think Melanie Giles has said in the past that the OR will only do a home visit if she/he thinks you are storing a few Monets!

Well done on you and your husband for keeping control of the situation and petitioning for your own bankruptcy as it is always a great psychological help if you are in control.

Do stay around on the Forum as there are a lot of 'friends' here who will help support you through the coming weeks and be able to give you lots of advice, from the benefit of personal experience and from professional knowledge.

Debbie [:)]

www.familyceremonies.co.uk

www.soulgrowth.co.uk

Thanks for the replies, I must admit I'm relieved. I did imagine watching 'The Wizard of Oz' on a 17 inch portable TV this christmas!!! Seriously though, thanks again and no doubt I will be using your forum again during the next few months as we go through the bankruptcy process for advice and support,
Gill [:)]

Learning as I go along!!!

Not sure I understand the logic of going bankrupt to stop a charge on the house and thuss save it? If the charge is successful, this reduces the equity and surely puts you in a better position to acquire the beneficial interest after bankruptcy?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hiya, we have been advised that if the charge goes ahead the company may request a monthly payment(which we can't afford to pay) or force us to sell the house-we are hoping that we can have 12 months tenure until we arrange other living arrangements. That is why my husband is filing for bankruptcy before the charge is applied. I know it's only delaying the inevitable but at least it's giving us a bit more breathing space,
Gill[:(]

Learning as I go along!!!

Hi
There does seem some logic in that.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi,
Here is a good link please read there is lots of info here. I was made BR in June, stressful? yes, worthwhile? completely. Just keep looking forward.

http://www.insolvency.gov.uk/freedomofi ... /part1.htm

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