| T O P I C R E V I E W |
| set1077 |
Posted - 12 June 2011 : 12:06:01
Myself & partner intend to file for bankruptcy. At the moment we have a car worth about £800.00. It is costing us a fortune in maintenance to keep it on the road. My mum & step dad are letting me have part of my inheritance money early and I will be buying their car off them with it, however I intend to put it in my mums name and insured in my mums name with myself & partner as named drivers until the bankruptcy is over. In the meantime we will sell our car and hopefully file for bankruptcy in 6 months time when they won't ask questions. With the new car in my mothers name and as named drivers, will this hold up? If I say she lets us borrow it etc?? |
| 15 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 13 June 2011 : 19:09:07
Yes it would be legal if your parents truly remain the owners of the veheicle, you declare that to the insurance and that you will be the main driver of the vehicle |
| Niobe |
Posted - 13 June 2011 : 17:11:54
Don't worry - you could have left it in. Sometimes other posters do upset us.
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
| set1077 |
Posted - 13 June 2011 : 17:08:01
Thanks kallis3, i just deleted my last post. I was ranting a bit beacuse I am unsure of my future and upset.  |
| Niobe |
Posted - 13 June 2011 : 17:02:58
I hope it all works out for you set and that you get the car sorted.
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
| set1077 |
Posted - 13 June 2011 : 12:02:33
Right so bascially scrap the idea of insuring in my mothers name, I agree it is dishonest.
However if my step-dad retains ownership of the car but passes use and responsibility to me as the registered keeper and thus insuring it myself legally, then there isn't a problem is there? As my previous post with info found states the car cannot be touched by OR unless i am the owner which I will not be.
Surely this is legal and acceptable or the OR would not be able to allow it? Please correct me if I am wrong.
|
| moodybluetwo |
Posted - 13 June 2011 : 10:38:14
All details of any incident are logged I can assure you…mainly for anti terrorist intelligence …which is also why most agencies now share information. As long as you are sure of your insurance proposal details are correct then you should be ok with your car. |
| Niobe |
Posted - 13 June 2011 : 10:11:36
The police now use Automatic Number Plate Recognition systems to check on the details on a car which is done in real time.
I disagree that if you are stopped the details are logged - it could just be a warning about something or a normal stop check. If you commit an offence then obviously these details are recorded.
However, if you are done for speeding and are offered the day course instead of points on your licence then this isn't logged anywhere and does not affect your insurance.
With our policy, yes we live at the same address, but I use the car more than the policy holder and there is nothing in ours about the amount of time anyone uses the car.
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
| moodybluetwo |
Posted - 13 June 2011 : 09:28:07
The insurance policy is quite specific on ownership of a vehicle and the percentage of time any named driver uses the vehicle. Also the police (and other lawful agencies) now have specific real time access to detailed information from your insurer ……so if you were stopped at any time or committed a road traffic offence the details would be logged. If someone digged a little deeper they may start to ask you questions you may find difficult to answer. In my opinion going BR is a serious matter which requires honesty and good will on both parts…do you think this is your situation? |
| set1077 |
Posted - 13 June 2011 : 00:22:15
I have just found some information, would anyne be able to verify what it says is correct please:
Establishing the owner of a car
Before the official receiver can take any action regarding a vehicle he or she must be certain that it is actually the property of the bankrupt. The registration document of the vehicle only confirms who is the registered keeper, it does not prove ownership.
If the ownership is unclear the official receiver will ask the bankrupt and any third parties involved to produce further evidence of ownership e.g. a purchase invoice, a copy of the loan agreement, or a bank statement showing transfer of funds etc.
Where the vehicle proves to be the property of a third party the official receiver cannot take action to realise it on behalf of the creditors. This applies in cases where the bankrupt is shown as the registered keeper of the vehicle but it was actually purchased by a parent or spouse.
If this is the case and it is correct then my step-dad would be able to prove purchase and ownership of the car for some years and he caould let me have full control and use as the registered keeper until BR is discharged. |
| set1077 |
Posted - 13 June 2011 : 00:08:40
Hi, I have taken on board all of your comments.
I have looked into the insurance side of things. Please read the following passage:
Most of the time, the legal owner and the registered keeper will be the same person. However in cases where a car is leased, then the legal owner will normally be the company and the registered keeper the employee who uses the car. Another example is when a father buys a car for the son to use – the father may want to retain all rights to the car but give the responsibility of day to day running to the son.Most car insurance companies will insist that the policy holder be the registered keeper to keep things simple and will not quote for cases where they are different. By law, the policy holder does not need to be the registered keeper but you will be narrowing your choices of insurers if you are in this situation.
My question now is if my parents remain 'OWNERS' of the vehicle but give it to me for my use and is registered / insured in my name then would the OR be able to touch it? If I get a legal document drawn up showing that it has always been in my step-fathers name and is still legally his but that he is giving full use and responsibility to me to run etc would they let this go?
Or am I on shakey ground?
If this is too risky and complicated then I won't contemplate it, it's just that if we have to get rid of our old car due to costs and we do not have a car at all then my fiance will not be able to get to and from work and we will be without any income at all. Any advice is gratefully received on this, I feel in a right pickle. |
| Skippy |
Posted - 12 June 2011 : 18:05:53
It's fine if you're at the same address but if not you're on dodgy ground so I would be careful - you don't want to take the chance of driving without insurance, it really isn't worth it.
View my blog at http://skippy13.blogs.iva.co.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.
Last IPA payment made on 28th June 2010 - it's over at last! |
| RHB |
Posted - 12 June 2011 : 17:36:41
That's the point though Jan, presumably they WON't be at the same address? |
| Niobe |
Posted - 12 June 2011 : 16:34:04
My hubby is down as the main driver on our car but I am the one who uses it the most. OK, we do live at the same address so I don't know if that makes a difference but surely if you are down as a named driver you should be able to drive the car as often as you like.
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
| RHB |
Posted - 12 June 2011 : 16:29:42
If you are not living at the same address as the main person it can invalidate insurance so be careful. I never realised this & when my ex left drove around as the named drive. Luckily I didn't have an accident but at renewal time obviously I was told I hadn't been insured. |
| debtinfo |
Posted - 12 June 2011 : 16:24:42
hmmm, i ask the question as i remember this being in the news somewhere called fronting, where one person who almost never drives the car goes on the insurance as the main driver instead of the onw that drives it all the time, Insurance though is not my speciality? |
