| T O P I C R E V I E W |
| mattdjuk |
Posted - 19 May 2008 : 13:28:01
Hi,
How do you prove to the OR that you need a car for work? My employer has said he'll give me a letter stating its necessary for my job - is that enough?
Thanks
Matt |
| 11 L A T E S T R E P L I E S (Newest First) |
| mattdjuk |
Posted - 20 May 2008 : 08:22:57
Payments are 112 a month, I think there is about 5K left in finance. |
| Helpful Advice |
Posted - 19 May 2008 : 19:44:03
Hi Matt,
Yes that is correct if you have paid over a third of the value then the finance company will need to obtain a court order to reclaim the vehicle.
On this basis you could request that you need the vehicle for work and that the value in the vehicle is less than £3000 with the finance outstanding.
What is the total finance and monthly payments?
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
| mattdjuk |
Posted - 19 May 2008 : 14:41:41
I have a copy of the credit agreement - as far as I can make out its securred on the car but because I originally put down a larger deposit in P/x'ing my old car they can't reposses it without getting a court order - Does that sound feasible? |
| Helpful Advice |
Posted - 19 May 2008 : 14:37:01
Hi Matt,
Yes I remember now.
Did you get a copy of the original contract from the finance company as this will tell you whether it is secured or not.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
| mattdjuk |
Posted - 19 May 2008 : 14:27:00
As far as I was concerend I had finance outstanding on it - Payplan whilst trying to set up an IVA for me contacted them and were told the loan is not secured on the car - seems a bit odd to me but I'm going on the assumption its not secured and the car is potentially a saleable asset. |
| Helpful Advice |
Posted - 19 May 2008 : 14:06:28
Hi Matt,
If you need the car for work then explain this need to them,
Do you have finance outstanding on the car?
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
| mattdjuk |
Posted - 19 May 2008 : 13:59:10
Not bothered about getting a cheaper one - Just worried about endding up with no car. We have transport links around us but I travel when needed for work, all over the UK. As I work for a small company its better for them if I drive than get trains (which they have to reimburse and cost more than a tank of petrol!). |
| zoe |
Posted - 19 May 2008 : 13:43:04
You may get away with it i would say will depend on the examiner - you may have to sell and get a cheaper one - i know people who have been made to do that |
| m and v |
Posted - 19 May 2008 : 13:37:14
Hi Matt - I never had to prove I need a car. I live in the sticks and there is no public transport - the examiner just took my word for it. You could have the letter on standby if asked for it but you probably won't.
Vicki x |
| mattdjuk |
Posted - 19 May 2008 : 13:35:59
Worth about 4K (according to parkers guide) - I know theres generally a limit of 2.5K for car and If I have to sell the current one and buy a cheaper ones thats ok - just concerned the OR will tell me I can't have car at all! |
| zoe |
Posted - 19 May 2008 : 13:30:35
Hi Matt
Do you own your car?? and what sort of value is it? |
