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T O P I C R E V I E W
bic
Posted - 07 January 2009 : 21:01:37 I am thinking about banruptcy but i have a few questions. I am concerned that i have a lease car for work as i am a district nurse the payment is taken directly from my salary. will this be allowed. also it will be up for renewal april 2010, will i be able to renew. i need a good car as i drive for most of my shift in a very dodgy area of a big city suburb, i do a lot of nights and weekends so my mileage if very high. if i cant keep or renew the car what will be my options, as i will obviously have no money to buy a new one next april.
sorry to ramble but i have a lot going on in my mind abd am confused whether an iva or banruotcy would be bettter
3 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 07 January 2009 : 23:46:48 that sounds as though it is a company car scheme where you make the contributions - no doubt they make some sort of allowance in your salary for that.
Can't be 100% sure without seeing the contract but I strongly suspect that the car and its renewal will be fine
Paul Johns Assisted Bankruptcy Specialists Reviva UK
thanks for reply, the car is leased via the PCT and the payment is taken direct from salary before i get my pay. i cant recall them credit checking me at time. does this mean i could keep car if i went bankrupt, and would i be able to renew in oct 2010 thanks
Reviva UK
Posted - 07 January 2009 : 23:10:09 Hi
the decision for Br or IVA should really lie with the affordability of an IVA and wether it is suitable for your personal situation.
The retention of the lease car would depend upon a number of different factors, but probably most importantly is the agreement with you or the PCT .
It is unusual for hte lease payments to be taken directly from a salary unless the car is part of a company car scheme - where the employer stands as part guarantor.
If this is the case then they probably will not credit check you as the car or the finance is not technically yours.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
