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| T O P I C R E V I E W |
| gedc1 |
Posted - 10 May 2010 : 16:52:22
Hello I had my telephone interview with the official receiver what lasted about an hour, he has told me he is sending me a pack to fill in and get signed, also he wants me to send credit card statements and bank account statements for the last 12 months, will this ever end.
I dont have statements that far back.
He has told me my car is on a personal loan can anyone explain how that works car value on parkers website is valued at £4000
Thanks |
| 4 L A T E S T R E P L I E S (Newest First) |
| gedc1 |
Posted - 10 May 2010 : 21:45:42
Hi Ricahrd thanks for your reply.
Could you tell me what exactly the pack the OR will be sending me.
After sending the statements I have to him what will happen then.
Also how long is it until all of my creditors are informed of my bankruptcy.
Thanks for your help.
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| gedc1 |
Posted - 10 May 2010 : 21:41:31
The official receiver told me on the phone today the allowance was £3000, he would have a local trader give him a valuation of the car and what ever it is worth above £3000 I would have 14 days from receipt of his letter with the valuation to find a third party to pay the difference between the £3000 and his traders valuation.
On no third party helping me out car would be taken from me and I would be given £2000 to purchase a replacement car.
He advised me to email him any defects to car ie dents, scuffs, scratches etc because he would be in my interest because it may bring down the valuation of the car.
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| Reviva UK |
Posted - 10 May 2010 : 18:07:57
Hi
It sounds like the car finance was from a personal loan ( probably a fixed sum loan agreement ) which means the car is not actually on finance.
Therefore if the car is valued at over 2k and if you need car for work it is likely that the OR will collect the car and sell it.
Usually they will make an allowance for up to £2k for you to buy another car with.
It is absolutely critical that everyone understands how finance works on cars and also to try to get some professional advice before going Br.
It may have proved easier to sort the car out before Br, which would also have freed up some money to pay for court fees as well.
Paul
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
| Richard P |
Posted - 10 May 2010 : 17:52:21
well done Gedc for the interview
you can only send them what you can send them
My interview was slightly diffrent to yours as my expert had handed the OR an interview pack which contained all of my financial statements. so in effect my interview was closure and a great release of pressure, I am sure that it will end when you have sorted out the car and sent all the paperwork that the OR has asked for.
keep your head up you have come over two great big hurdles, the light at teh end of the tunnel is getting brighter.
regards Richard |
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