| T O P I C R E V I E W |
| debt free at last |
Posted - 09 February 2009 : 23:00:03
I have recently been made bankrupt and the OR has asked me or a third party to make an offer on one of my assests.My questions are
1, If i cant make an offer what would happen to the asset?
2.If i made an offer does it have to be the current market value or does it just have to be reasonable?
Please advise. |
| 6 L A T E S T R E P L I E S (Newest First) |
| movin on |
Posted - 10 February 2009 : 10:00:42
If that is the retail price then i very much doubt it will be worth a couple of hundred pounds now.....why dont you check the same model on ebay and places like that - I dont believe you should have to get a 3rd party to buy a TV back, especially when it is worth very little now.....People off the forum have had 3 piece suites on buy now pay later and got to keep them no problem - I would not take it lying down.
Hindsight is a wonderful thing
Jenny
xx |
| debt free at last |
Posted - 10 February 2009 : 09:56:09
I purchased the TV in August 2007 on a buy now pay later scheme. The payments started in May 08 and I was made BR on the 13th November 08.
I purchased the tv for £980 and the current retail price is around £450+. |
| movin on |
Posted - 10 February 2009 : 09:52:55
Hey Debt free at last.....I just wanted to welcome you to the forum and say good luck on your new debt free journey.
Hindsight is a wonderful thing
Jenny
xx |
| Melanie.n |
Posted - 10 February 2009 : 09:01:08
Rather strange the OR has picled up onthis item - was it recently purchased via credit?
What is its value - I only ask as TV's are normally classed as essential items, unless of course someone has taken out credit to purchase just prior to filing for bankruptcy?
It is difficult to give advice without whole picture
Please let me know, then i can advise
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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| debt free at last |
Posted - 10 February 2009 : 08:41:51
Thanks for the reply.
The item is a TV so nothing major.
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| John |
Posted - 10 February 2009 : 00:43:24
Hi
1) without more detail I cannot be sure but in all probability the asset would be seized and sold.
2) it's a negotiation so start low. If the offer is refused and you really would like to keep the asset then try again.
It makes life much easier for the OR if you reach agreement.
timendi causa est nescire
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