I had a conversation with my O Receiver today and she has informed me that my VW Passat taxi will be taken from me and sold at auction. I kind of knew that this was going to happen as it's worth about £9000. I was told that I would be given £2000 back to purchase another car to use as a taxi.How the hell am I supposed to buy a car with that sort of money when most of my clients are airport customers? I'm also going to be without a vehicle to earn money with if they take my car away in the meantime.. I was under the impression that the OR would not be able to leave you without means of earning a living if you have a car for business?
If I want more money to buy a car I have to prove that having a newer car will benefit me more..I'm not sure how I'm able to do this to be honest?
This is kind of worrying as my husband is a taxi driver too, and we were under the impression that the car would not be taken away from us. How in do they expect you to buy a road worthy taxi with £2000. Sorry I am not much help by the way. Hopefully someone will come along and help you soon.
the key to many of these things is to organise them fully and with transparancy for the OR, but BEFORE you go Br.
There would have been nothing to stop you down-specking your car prior to Br and then handing over the bakance to the OR.
If a car is on finance the matter is slightly different. The OR is interested in realisable assets, and these days if a car is on finance it is probably in negative equity. Therefore there is no financial benefit in selling the car to realise £ because there is none.
In HP you need to seek agreement with the finance company re continuing tomake repayments after Br - this is because in most agreements it says that insolvency will cancel the agreement.
Fundamentally the finance company don't want the car back, they would prefer not to loose money and have you continue to make monthly payments.
Therefore all one needs to do is to convince the OR that the HP agreement is a requirement of work and not excessive and they would probably agree to it.
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
I would have a look around at the cars available to buy and get some evidence of how much you realisticlly need to pay for another car. You can then approach the OR with your evidence and ask for the amount you need. I don't think it would be unreasonable for you to ask for £3-4,000
Hi if your customers are subcontracted to you through a 3rd party why not discuss this with them. Let them decide a minimum requirement as far as make, model and age then research the cost for the car itself and the necessary equipment, licensing etc. Perhaps you could ask the 3rd party to put something in writing (on a letterhead)to you stating the requirement which you could present to the OR.
Or and Cars?
Posted - 23 September 2008 : 20:11:30
