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T O P I C R E V I E W
jwmc77
Posted - 28 November 2008 : 16:59:15can one of the experts clear something up for me? i have seen on here, multiple figures for cars to be exempt from br, for instance.....i was told when i was first on here that we would be allowed to keep the car if it was valued under 3k......now, ive just read a post from paul johns stating that "if the cars valued at £1500-£2000 the or will show no interest" what is the official figure??
MAC
2 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 28 November 2008 : 17:42:34 Hi
probably need to explain more fully.
The guidelines suggest a car - if needed for work and assuming work couldn't be reached by other means - woulc be considered for exemption from bankruptcy on an individual basis.
The figue as I understand it is 1500. However there are natural variations in car prices around the country and different Official Receivers offices will view these differently.
From experience I have not had a car totally exempted over £2000 in value, so if it is worth more there is usually some negotiation to be done.
I would suggest you call the local OR's office and ask them their policy. They will not comment on individual circumstances but had asnwered the question to me several times
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
Needafriend
Posted - 28 November 2008 : 17:15:49 Hi Mac
I know what your saying that there is no consistency on this but i do think that it is down to the OR at the time.
As you are aware they have their guidelines and i think its down to needs and how they feel at the time.
I would not worry though, get a valuation yourself and include in the paperwork that the OR requests.
Take care
Jo x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called: Needafriend's Info on Bankruptcy :-) http://debtfreejo.blogs.bankruptcyhelp.org.uk/ Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
can one of the experts clear something up for me?
