Selling assets to pay your debts

In certain circumstances it makes financial sense to release any money locked away as an asset to help you during times of financial difficulty, to reduce or clear debts.

If you have assets that you’re willing to sell, such as a car, watch or other valuable items, you could consider selling them to release the money and use it to help you while you’re struggling.

What assets can be sold easily?

An asset is anything you own that has a value.

The most obvious asset is money held in a savings account, but this isn’t always quick to access. Some accounts require a 90-day notice period.

Typical items that may have value and can be easily sold include jewellery, watches and antiques. You can also consider larger items, like cars, caravans, bikes and property or land, but these will usually take longer to sell.