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| suz |
Posted - 28 February 2007 : 11:27:33
I have looked up to see value of my car which is 4,500. If I go bankrupt will they take it? If so, i wouldnt even be able to look for a job (if I can get one). second option could one of the family pay the extra 1500, which looks as if the car is worth 3,500 they usually allow you to keep it.
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| 4 L A T E S T R E P L I E S (Newest First) |
| Skippy |
Posted - 14 March 2007 : 21:45:38
My car is valued at about £3500, so I am resigned to the OR taking it, but I am worried that they will say I don't need a car as my partner has one. It would be possible for me to get the bus to work, but it would make it difficult for me to get to work on time due to the bus times. I work for an American company and if there is a conference call with the States I am expected to stay late. I am have also had to work some weekends and bank holidays when there are computer upgrades. Yes, my partner has a car, but this is his work vehicle (he is a self employed handyman) so there is no way I can use it for work, and he cannot take me to work as it will make him late for his jobs. Also, my mum is elderly and on her own. I need to be able to get to her if she needs anything, and also to take her for hospital appointments. While she can drive at the moment I don't know how much longer this will be for as she has glaucoma and the start of a cataract.
Will the OR take these circumstances into account? My mum and my uncle have both offered to pay the difference to the OR to allow me to keep the car - would this be possible or would they have to pay the full price of the car?
If the OR owns any assets at the time of BR, will I still be allowed to drive the car until they take it, and if they do decide to allow me money for a car, is that instant, or will I be without a car for weeks?
Sorry to ramble on, but I am worried that I will be left without a car.
Where there's life there's hope! |
| Skippy |
Posted - 14 March 2007 : 21:43:37
My car is valued at about £3500, so I am resigned to the OR taking it, but I am worried that they will say I don't need a car as my partner has one. It would be possible for me to get the bus to work, but it would make it difficult for me to get to work on time due to the bus times. I work for an American company and if there is a conference call with the States I am expected to stay late. I am have also had to work some weekends and bank holidays when there are computer upgrades. Yes, my partner has a car, but this is his work vehicle (he is a self employed handyman) so there is no way I can use it for work, and he cannot take me to work as it will make him late for his jobs. Also, my mum is elderly and on her own. I need to be able to get to her if she needs anything, and also to take her for hospital appointments. While she can drive at the moment I don't know how much longer this will be for as she has glaucoma and the start of a cataract.
Will the OR take these circumstances into account? My mum and my uncle have both offered to pay the difference to the OR to allow me to keep the car - would this be possible or would they have to pay the full price of the car?
Sorry to ramble on, but I am worried that I will be left without a car.
Where there's life there's hope! |
| BankruptcyHelpline |
Posted - 06 March 2007 : 17:19:44
The O.R. will own any assets at the time of the bankruptcy, they allow cars for essential needs i.e. work, school run, special needs etc to a value of 2.5k the vehicle must be taxed and insured with a current MOT this is for their protection from any personal claims!
Regards, Dennis,
www.BankruptcyHelpline.Org
0208 626 9366 |
| Skippy |
Posted - 28 February 2007 : 12:10:59
Hi Suz, I have been advised that it is generally possible for a family member to pay for you to keep any item. I was also told that it is worth making a lower (but reasonable) offer, rather than offering the full amount straight off.
Where there's life there's hope! |
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