Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
lillyb
Posted - 16 August 2008 : 10:30:17 If we have finance on a car at the moment can we clear that finance now before declaring ourselves bankrupt?
1 L A T E S T R E P L I E S (Newest First)
John
Posted - 16 August 2008 : 10:56:29 Hi yes you can as secured borrowings are not included in BR. If by doing so you have considerable equity in the car and it is worth more than £2500 the OR can claim it as part of the estate. In cases where a vehicle is claimed the OR would normally pass approx £2000 back to the BR party to replace the vehicle providing it can be proven that it is essential.
