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T O P I C R E V I E W
spices100
Posted - 01 June 2010 : 15:58:28 i was bankrupt sept 09 and recieved letter stating my car is exmept. filled out ED forms and expecting to be ED'd by mid july.
just wanted to know, i want to sell my car (£1000-£1500) and get a more ecominal car, will i have to inform the OR of this ?
2 L A T E S T R E P L I E S (Newest First)
Richard P
Posted - 01 June 2010 : 16:33:16 agree with bridgewood
if possible leave the car until after ED
regards Richard
Bridgewood
Posted - 01 June 2010 : 16:25:21 Hi Spices100
As far as I am aware, once an asset has been exempted that is it as far as the OR is concerned - i can't see any reason why you should notify the OR if all you are doing is replacing one vehicle for another of a similar value
The only issue I think may arise would be if your new car was of a significantly greater value
Obviously, if its done post discharge you have nothing to worry about either way
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
