| T O P I C R E V I E W |
| lisa.91 |
Posted - 18 April 2010 : 06:55:19
I gave my car to my sister as I owed her approx £5000. She has been giving me cash regularly so that I can pay for groceries and pay my bills over the last year. I am a single mum with 3 children and am in debt
+++!. The car is now registerd in her name. I am now in the process of going bankrupt as she says she can''t keep bailing me out. Will either of us get into trouble?!
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| 11 L A T E S T R E P L I E S (Newest First) |
| Bridgewood |
Posted - 19 April 2010 : 15:43:51
Hi Lisa
The OR would usually ask you if you have given any assets away or sold them for less than their value - there used to be a question in the bankruptcy pack about it - not sure if it's still there
Giving your car to your sister to pay her back for money she has loaned you is called a preference, and the car can be reclaimed by the OR (or its monetary equivalent)
However, if your sister has loaned you money since the car was transferred to her you could class this as part payment for the car
Good Luck
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| debtinfo |
Posted - 18 April 2010 : 22:36:25
id watch what you put on your facebook and myspace if you leave it open to the public as well |
| debtinfo |
Posted - 18 April 2010 : 22:34:52
it has been known, 10 seconds on the internet, gives a starting point to ask a question, you would also be amazed at how many letters the OR receives from concerned citizens that think the OR might want to know something about the bankrupt |
| Skippy |
Posted - 18 April 2010 : 22:32:11
Does the OR really use Streetview? I don't see what that would prove - I've gone on holiday and left my car outside my mums, and as I can never park outside my house, using that logic it could belong to anyone in the street!
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
33 IPA payments made, 3 to go - the end is in sight! |
| debtinfo |
Posted - 18 April 2010 : 22:01:23
I presume that it was once registered in your name at the DVLA, and that you bought it at some point. thats two records that the OR can get, what about google maps or street view, is it picured on there?
did you ever buy fuel, insurance, tax etc etc
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| milkshake1 |
Posted - 18 April 2010 : 21:52:52
I gave the car to my sister approx 1 month ago and am going to have to declare bankruptcy very soon. How will the powers that be know that it was previously mine if it is no longer registered in my name?
quote:
Originally posted by chester2005
if you were insolvent at the time of giving her the car then the OR will see it as preferential treatment of a creditor and would look to reverse it.
how long ago dis you do this?
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman)
RevivaUK and Paul Johns helped me through it all i can't recommend them enough!!
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| chester2005 |
Posted - 18 April 2010 : 15:00:16
if you were insolvent at the time of giving her the car then the OR will see it as preferential treatment of a creditor and would look to reverse it.
how long ago dis you do this?
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman)
RevivaUK and Paul Johns helped me through it all i can't recommend them enough!! |
| RHB |
Posted - 18 April 2010 : 13:27:13
The car would most likely be taken from your friend or she would be asked to pay it's book price to keep it. |
| milkshake1 |
Posted - 18 April 2010 : 08:56:14
quote:
Originally posted by RHB
How much is the car worth?
The car is worth approx £5,5oo. It is only 5 years old but has been knocked about a bit. I couldn't afford to get the bodywork sorted. |
| RHB |
Posted - 18 April 2010 : 08:40:46
How much is the car worth? |
| debtinfo |
Posted - 18 April 2010 : 07:27:44
probably yes. At the laest the OR will look to recover the car. |
