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T O P I C R E V I E W
amyc
Posted - 14 February 2011 : 19:05:15 A family member of mine is starting bankruptcy proceedings as she cannot handle her debt. My question is , is she likely to lose her car? Its been valued at around £2.600. She uses car to travel to and from work but also uses it in her job during the day and to attend regular evening meetings. What are chances of Official reciver taking the vehicle?
4 L A T E S T R E P L I E S (Newest First)
debtinfo
Posted - 14 February 2011 : 21:39:00 unlikely for £2600 but there is no hard and fast rule
Niobe
Posted - 14 February 2011 : 21:33:14 I'm not sure how they do it, one of the experts will advise though.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan xx
amyc
Posted - 14 February 2011 : 21:27:42 thank you kallis. i will get her to do that. if it is worth more than £2,000 do you have any idea whether they will take car. I am not sure how they come to their decision or whether its soley based on car valuation. Hope all well your end
Niobe
Posted - 14 February 2011 : 19:27:46 Hi Amy, I hope you are well.
Your family member might find that it isn't actually worth as much as she thinks. Check out Glasses guide or Parkers guide for the value of the car.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
