Hi, this is my first time on this site and i'm really nervous. I had been hoping to get an iva but after speaking to a expert today she has advised me that br is our only option(my husband and I, I haven't told him yet, which is why i'm nervous). I'm worried about the cost of going br as we have no money spare at the end of each month, i've already stopped paying my creditors just to servive. My husband has a bike which I know he'll have to sell as its for his own personal use but will it be accepted that it is sold to pay for the fees and not debt as I know they check on assests sold in the last 5 years, its only worth about £1000-£1500. Also he would probably sell it to my dad as he's been after it for a while! Many thanks
You are at liberty to sell the bike at this point but you must ensure that it is sold at market value and please keep receipts etc to show where the asset has gone and what the money has been used for