I am currently in a DMP, due to go BR soon. I have a car worth about £1,000 (on a good day) which I need for work. I have just found out the whole suspension system needs replacing, which will cost around £300 - £400. I don't have this money and I don't want to spend any more £££ on that bl#'dy car!
If I was to sell it now and buy a cheap banger run-around instead for like £300, what should I do with any leftover money from the sale? I imagine it will be something like £500 - £600.
Should I try and keep it safe until I go BR and then declare it?
Would I get into trouble with the OR if some of this money was spent on living expenses?
As your so close to BR i would keep the money in a safe place and if the OR wants it then they can have it. You would just have to explain to them thats what you did. Thats what i would do anyhow. Take care
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
Sale of Car...
Posted - 26 September 2008 : 22:23:40
