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 bankruptcy postbag for may
 Can I sell exempt car?
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Bear
Junior Member



183 Posts

Posted - 01 May 2008 :  16:52:12  Show Profile  Reply with Quote
Hello,
I have just got confirmation from the OR that my car is exempt- can I now sell it?? If I do does the OR get anything? Do I have to let them know?

Thanks!!

missey
Junior Member

184 Posts

Posted - 03 May 2008 :  14:42:07  Show Profile  Reply with Quote
i also have a similar question- however we have just become discharged bankrupts and need to sell the car, or scrap it to get a new larger car
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JulianDonnelly
Junior Member



United Kingdom
325 Posts

Posted - 04 May 2008 :  17:22:24  Show Profile  Visit JulianDonnelly's Homepage  Reply with Quote
Hi Guys,

If the car is exempt property then you will be able to sell this, as it is outside the bankruptcy proceedings.



Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
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Reviva UK
Advanced Member

United Kingdom
2452 Posts

Posted - 04 May 2008 :  21:09:25  Show Profile  Reply with Quote
Just bear in mind that if you sell your car then your uncome & expenditure will change -
i.e. no car tax, petrol, insurance, maintenance & repairs etc, - so in reality you actually may end up with an income payment agreeement.



Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com
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