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stanton
Starting Member
20 Posts |
 Posted - 29 April 2009 : 19:56:39
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Hello all, some urgent advice required, please. I had up until a few weeks ago a BR hearing scheduled for May 1st which I then had to cancel as raising the fee in time was too much. Unfortunately, my car died its last a few days ago and the cost of having it fixed is far too much. Now, I'm out of work at the moment but hopeful of securing a job in the near future; however, it's absolutely vital that I have a car in this respect. Today my wife (I should add that we're separated and she's been BR a couple of months now) had our house formally repossessed with a 28 day deadline before the warrant to evict is issued. This is bad enough but what I really need to know is, what are the implications of this (in terms of the shortfall being pursued, etc) as I'm not yet BR? If I manage to pull together the money for a car in the next month or so - therefore pushing back any BR date at least several months so the fee can be saved up - is there a chance the car could then be seized by bailiffs? Or should I go BR at the next available date, and try to somehow save for a car and a job at a later date? I'm also wondering if, given the likely large shortfall on the house, some sort of restriction could be put in place to prevent my going BR so the lender can try and recoup more money?
I know these are a lot of questions and I've waffled on but I've had some great advice from the experts on this site to this point and I now feel utterly helpless and that the situation is totally beyond hope. I have to admit that I'm finding it harder and harder to keep some silly thoughts at bay as each week goes by; I can't seem to get out of this at all so would really, really appreciate some good advice. Many thanks to you all. |
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John
New Member
United Kingdom
73 Posts |
Posted - 30 April 2009 : 09:03:13
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Hi
firstly your mortgage lender cannot take any action to stop you petitioning the court for your bankruptcy and the shortfall will be included.
It seems the whole debt situation, timing of bankruptcy and car issue is stressing you out.
The fact is that if you purchase a replacement car it could be at risk if a creditor acquires a CCJ against you before BR.
As you are not working at present it may be best to go BR first then the weight of all the harrassment from creditors etc is lifted.
Then search for a job using public transport for interviews etc.
Until you acquire work and establish the daily journey it's an unknown as to whether or not a car is vital in which case if you acquire the car first, avoid bailiffs, go BR, find a job and the OR deems the car not necessary it will be claimed and therefore you will have paid for the car and delayed BR unnecessarily.
John White
England Jackman & Spacey |
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stanton
Starting Member
20 Posts |
Posted - 04 May 2009 : 11:45:33
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| Hi John, thanks as ever for your advice. My problem is that a car really is necessary to travel to suitable, potential jobs - I work in the NHS and there are no posts within public-transport distance - and in any post a car will be needed for getting out and about in the community as part of my work. My health also limits any sort of alternative work. Under these circumstances do you think it's worth the risk of getting a car first (as I can't see how I could possibly save up for even the cheapest runababout once I'm BR and won't be in a position to take up any job without a car) and hope that this is taken into account when the shortfall on the house is pursued? As you might have gathered I'm feeling somewhat trapped! Cheers. |
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John
New Member
United Kingdom
73 Posts |
Posted - 04 May 2009 : 12:59:02
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Hi
Your suggestion is to acquire a vehicle then accumulate the funds to declare bankruptcy.
Do I assume that you know very well that having purchased the car it would not be possible for you to find the BR fees until AFTER you have found new employment?
If this is the case then if the car is deemed required for work, and your post suggests that's a virtual guarantee, then you won't lose the car in BR so go ahead and buy one.
Alternatively if what you're saying is that you wish to buy the car then save for the court fees even if work is not found then why would you not believe you could save for a car once BR?
If you're not working you will not get an IPA so your DI in BR will be the same as it is now.
John White
England Jackman & Spacey |
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stanton
Starting Member
20 Posts |
Posted - 04 May 2009 : 13:51:33
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Hi John
thanks for a speedy response - and on a bank holiday! My apologies if I wasn't clear but it is the first scenario - I have a number of interviews in the pipeline and am as confident as I can be of securing a job from them, at which point I was hoping to pay for my BR from my first pay. But, all of them are a good many miles away and all will require community working, so without a car (and I should specify, a really cheap one, given my budget's only a few hundred) I've no chance. If the chance of work wasn't in the offing - and hence a chance to get back on my feet - I wouldn't be concerned with transport and would just go ahead and book my BR. Again, sorry if I wasn't clear. What is the chance, however, of the courts appointing bailiffs to chase the shortfall on the now repossessed house, and having any car seized via this route, given that such an event would put me back on both fronts (no money for BR OR transport)?
Cheers. |
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John
New Member
United Kingdom
73 Posts |
Posted - 04 May 2009 : 15:14:30
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Hi
I would buy the car, take the interviews, find the job pay for BR in 1st month salary.
When you buy the car, and to avoid the possibility of bailiffs looking into it, register the car in someone else's name. Later in BR you can demonstrate the car is in fact yours but if a bailiff comes around he'll take your word for it and at most check with DVLA which will show the car is not registered to you.
The likelihood of bailiff apearance is minimal.
It will take many months for mortgage lender process of chasing the shortfall to get to that point. The shortfall has to be known for it to go to court so it cannot happen until AFTER the lender has sold it - months away.Even if they did get to that point before BR the car is not registered to you so what can they do but petition for your bankruptcy - then happy days - saves you £510.
You should be straight with the OR of course but not necessarily to these people.
John White
England Jackman & Spacey |
Edited by - John on 04 May 2009 15:15:56 |
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stanton
Starting Member
20 Posts |
Posted - 04 May 2009 : 15:53:09
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| You're a top man, John. That's my plan settled and hopes back again. I'm finding that taking a long-term, 'bigger picture' view is helping me keep this in perspective - just! Cheers again. |
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Hello all, some urgent advice required, please.
