we are considering going BR. Our house is in negative equity, but we are concerned about losing our cars. Can a family/friend buy the car from the OR, and is this likely to be less than the true value of the vehicle?
Cars of a value less than £2,000 generally tend to be exempt from bankruptcy proceedings. If your car is worth more than this, there is nothing to stop you getting a family member to purchase it, so long as it is at the proper value.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
beneficial interest
Posted - 04 July 2008 : 23:37:06
