Assets

Your assets might be sold to pay your bankruptcy debts.

Assets are the things you own including:

• money and savings
• property
• cars and other vehicles
• life insurance policies
• jewellery
• shares

You usually need to hand over your assets to the trustee. 

What you can keep

You can usually keep:

• things you need for your job, like tools, books or a vehicle
• household items, like furniture

But you may need to give these things up if they cost more than a reasonable replacement. 

Private pension

You can usually keep any money you’ve put into a pension. But if you’re getting payments from it when you’re made bankrupt, these usually count as income. 

You should talk to the trustee about how bankruptcy could affect a private pension.