I am considering going bankrupt but need some advice about my car. I have a new car and I know that this is worth more than the £2500 they allow, so I presume they will take this off me. The problem is the car is registered in my name but the finance is in my mums name and she pays the finance on it. Will they still take the car off me even though I dont officially own it?
Hi VB I'm not 100% sure but I think that you may be OK, as the agreement is in your mothers name. Officaly it is not your debt.As your mum is the one who is Paying for the car, it is Her Debt. If you go BR they will look into it , and see that you are the Registared keeper , so you will have to show the OR a copy of the finance agreement,as proof that you are not the owner.
I am considering going bankrupt but need advice
Posted - 21 June 2009 : 20:50:57
