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 bankruptcy postbag for july
 Car ownership
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Starting Member

United Kingdom
13 Posts

Posted - 08 May 2010 :  11:50:30  Show Profile  Reply with Quote
A freind bought me a car last year because my old one was unreliable and I am feildbased in my job. The car was purchased by my freind through motorpoint and he has the receipts etc. I had to register it in my name to get it insured. I am responsible for insurance/ car tax etc but my freind still has ownership. If I were made BR he is concerned the OR will take it because it is worth £9000. How do we stand with this. Any help appreciated.

Reviva UK
Advanced Member

United Kingdom
2452 Posts

Posted - 08 May 2010 :  12:58:59  Show Profile  Reply with Quote

Ownership is not shown on the car's log book - instead that is used to show the registered keeper.

If your friend can show that he has purchased the car, the receipt is in his name and that the money for the car left his bank account directly to them then the car is OK.

If he gave you the money to purchase the car and you paid for the car from your bank account then it is a different matter.

probably better to get that paper trail prepared to show the OR when they ask.

hope that helps.

Paul Johns
Bankruptcy Specialists
Reviva UK

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Starting Member

United Kingdom
13 Posts

Posted - 08 May 2010 :  14:34:16  Show Profile  Reply with Quote
Yes he has the invoice plus receipt confirming he purchased the car. How far back would the OR go with bank accounts I have a paperless account and wondered how the OR would handle this. I am in a 2 yr IVA still and are trying to avoid BR but my payments have shot up to the point I feel BR may be best option. I am with DFD. and pay £607 a month whilst at the start my payments were £300.
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forum expert

2826 Posts

Posted - 08 May 2010 :  14:35:23  Show Profile  Reply with Quote
The OR can get whatever statemnents they want from the bank and they will go back as far as necessary
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