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| rio |
Posted - 17 August 2009 : 11:10:56
I am 67 years old and require my car worth about £6500 or may be less, due to a heart condition will this be taken from me in bankruptcy |
| 4 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 18 August 2009 : 18:09:13
If you sell your car, you can use some of the money to buy a cheaper car (about £2k) and then the rest of the money would have to go towards your bankruptcy.
The glimmer gets brighter all the time
Jan
xx |
| xmas baby |
Posted - 17 August 2009 : 16:04:35
Good afternoon,
The only other thing I can think of, is substituting the existing car for a cheaper vehicle?
xmas baby |
| Daniel Griffiths |
Posted - 17 August 2009 : 15:50:43
If your vehicle is valued in the region of £6500 without finance and wholly owned by you I cannot see, (but would like to be proved wrong) that the OR can let you keep this vehicle. This would be against all principles of sharing assetts among your creditors. I know of no medical argument that would suggest you can keep this assett which is not required for work or vocation, ( I presume you are not working).
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| Melanie.n |
Posted - 17 August 2009 : 11:28:31
Is your car by any chance a mobility vehicle? If so, the OR would not touch it
The chances are that you would be able to keep the vehicle if your 'arguement is sound enough', perhpas you could get a letter from your doctor as evidence of your heart condition and thus need for the cehilce, that way you can substantiate the arguement and get to keep the vehicle.
I would advice you go onto a website such as Parkers and get an up to date valuation - the figure used is the lower valuation figure for OR purposes of valuation on this site
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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