Just filing in the household members part on section 10.1. i live with my parents who are pensioners. should i put there names in it. also i take my father for hospital appts so does that class as him being dependant on me. am unemployed and have a bmw car valued at £2400 trade value and dont want it taken from me as am looking for work.
Yes, put their details in. The 'dependent upon' section is normally for people who are financially dependent upon you.
The car at £2400 is right at the top of the value normally allowed to be kept so you may have to make a case for needing a car that is worth this much or pay the OR the difference if they only allow a £2k value car. It will also depend upon their valuation of the car. Normally this is taken from the Parkers website.
if i get the opportunity to pay the difference in the car how long would i have to come up with the money, also can i negociate with the OR that i trade my car in for a cheaper car and give them whats left over?
quote:Originally posted by gettingoutofdebt
Yes, put their details in. The 'dependent upon' section is normally for people who are financially dependent upon you.
The car at £2400 is right at the top of the value normally allowed to be kept so you may have to make a case for needing a car that is worth this much or pay the OR the difference if they only allow a £2k value car. It will also depend upon their valuation of the car. Normally this is taken from the Parkers website.
If you decided to pay the difference then I am not too sure how long you would be given to pay it although I do know that cars are normally taken pretty quickly as they depreciate on a monthly basis.
If you didn't decide to pay the difference then the OR would take the car and give you £2k to buy another car. I presume they would want to see receipts, etc. as proof that you spent the whole £2k.
The other option is to sell the car before you declare BR, buy a car with a value of £2k or less and then volunteer the additional amount to the OR once you are BR.
Some people have also used any additional amount to fund their BR fees. You would normally get a slap on the wrists from the OR for this as they expect any additional amount to go to the creditors but if that is the only way you can find the money for the BR fees then there isn't a lot else you can do.
Just filing in the household members part
Posted - 25 August 2009 : 13:06:21
