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tadele
Starting Member
1 Posts |
 Posted - 12 December 2008 : 13:53:14
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| I have no choice but to declare myself bankcrupt but I need my car to take my child to school & to get to work would I be allowed to keep my car? Its approx value is £2000 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 12 December 2008 : 14:04:28
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Hi Tadele
As long as you can prove without a doubt to the OR that you indeed need the car and that their no other way of getting around then the OR may indeed let you keep it.
Jo
x
18 Weeks down
34 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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xmas baby
Average Member
537 Posts |
Posted - 12 December 2008 : 14:57:19
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I am thinking of going bankrupt and would love to keep my old car (only worth £500 at best) and would be lost without it. The problem is I don't need it for work and really use it to visit my mum who is elderly and I help her do her weekly shopping. Not sure if the OR would see this as a good enough reason though. Saying that, all my car tyres were slashed last week and it cost me £200 to replace them. Just what I need at the moment, so maybe it might not be a bad thing if the OR seized it after all.
xmas baby |
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John
New Member
United Kingdom
73 Posts |
Posted - 12 December 2008 : 15:19:15
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Hi
if you don't yet have the cash for bankruptcy sell the car to a family member and have it insured for you to drive. It's not a sale undervalue and you need the funds from somewhere!!!!!
You must show the money for the car going into your account then withdrawn in cash to pay the court.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
Edited by - John on 12 December 2008 15:20:11 |
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pix1
Average Member
689 Posts |
Posted - 12 December 2008 : 22:49:25
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xmas baby,
You would probably be able to keep it, especially as it could be legitimately declared as worth only scrap value on the petition. THe examiner would probably let almost anyone keep a car if it is below £2500 in value. Technically, yes, you need to show reason for needing it and, indeed, helping your elderly mother do her shopping sounds like a good enough reason to let you keep it. |
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I have no choice but to declare myself bankcrupt
