keeping a car and tv

[priti]

i am considering bankruptcy, i have a car chich i use with my mum, will the car be taken even though it is not in my name, although i do use it quite a lot.
also i have a tv which was bought on hp for my parents as a gift. would this be taken too as it is not mine, although i have paid for it but had given it to them???

[Adam Davies]

Hi
The car would be safe as long as your mum can show that it belongs to her.
If the tv is all paid for then this would be safe,unless you declared it as an asset.
Regards

[chris.g]

On the bankruptcy form there is a section where you would list any assets. Anything that is listed in the section risks being claimed as an asset by the OR in bankruptcy. Normally items such as TV's and PC's etc won't be classed as assets as the amount that will be raised will not justify the cost to sell them off.