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| T O P I C R E V I E W |
| Sharon53 |
Posted - 10 December 2008 : 18:36:01
Hi Skippy
It is only my son who is to go BR, he has been unemployed but has just been offered a job which involves traveling and so needs their car (they previously both worked and lived in the same town and so only needed the one.)
His partner cannot work without a car as she needs it to transport the baby to her minders who both live 10 miles away with no public transport, and there is no way they can live on his wage alone.
To solve the problem the family have agreed to fund a car for her, but will it be safe - and would they be allowed to include repayments of the money in their expenditure?
Sharon |
| 5 L A T E S T R E P L I E S (Newest First) |
| movin on |
Posted - 13 December 2008 : 21:23:36
Hi there
I went br, hubby did not.....I am not working and the only income we have is what hubby pays into account for bills, ctc and cb.
On your sons forms he will put down his income and in the 'other contributions' he will need to put what your DIL contributes (not what she actually earns). Any debts your DIL has will be paid out of her income, and that cannot be questioned.
I am speaking from personal experience of this and am no expert but wanted to answer your post best i could.
Jenny
xx
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
| Sharon53 |
Posted - 13 December 2008 : 19:48:55
Hi John
Sorry to be so finicky, you say that my son's partner will be able to make repayments to me after he is BR, so will he be able to include that on their household expenditure list? She was planning on paying £200 a month but would that be allowed or would the OR think they were just trying to lessen any disposable income. Also how can the repayments be seen and proved to be coming from her income when my son's wages are paid into her account as well?
I find it difficult to understand quite how it is all handled when only one partner is going BR and yet both wages are in the same account and all household expenditure is joint. |
| John |
Posted - 11 December 2008 : 11:02:24
Hi
if the receipt is in your name then you own the car, irrespective of who the car is registered to.
That's absolutely fine and your daughter in law can still make the repayments to you whilst your son is bankrupt.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| Sharon53 |
Posted - 11 December 2008 : 09:24:57
Thanks John
Does the receipt have to be in her name or can it be in mine as the funds will be coming through me? |
| John |
Posted - 10 December 2008 : 21:40:58
Hi
as long as your son's car is not valued at more than £2K he should keep it if he needs it for work.
The car planned to be funded by the family should be registered in his wife's name, and she seen to be the owner by virtue of a receipt at the time of purchase. As long as the funds to buy the car are not channelled through an account connected to your son this is fine.
Repayments can be made to the family for this car even whilst your son is a bankrupt as long as the repayments are clearly seen to be, and documented as, coming from his wife's earnings / account.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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