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| charlie44 |
Posted - 23 September 2009 : 12:17:07
Sorry if these questions have already been answered, but I have done a search and cannot find anything relevant. Anyway here goes.
1, How is the valuation of the car assessed?
2, Will the OR allow a relative to make an offer if it is worth over £2000?
3, Neither my wife or I work, but my wife is registered disabled and I am on Incapacity Benefits and need a stick to help me to walk. Therefore public transport is not really an option. (This was a result of an operatiion I had 10 years ago, that also forced me to take early retiremnt.)
4, Can I sell the car prior to my hearing and buy a cheaper one and give the OR whatever is left?
I think that is about it, sorry for the number of questions but I am trying to plan for the future. |
| 4 L A T E S T R E P L I E S (Newest First) |
| gettingoutofdebt |
Posted - 23 September 2009 : 18:21:00
The link is www.parkers.co.uk and for the 'what's it worth' link you can use http://www.parkers.co.uk/cars/prices/.
A car worth £4200 would definitely be considered too high a value by the OR unless you can make a case that you need a car of this value i.e you are a travelling salesman and drive 1k miles per week so need a reliable car, etc.
The other option if you want to keep the car is to get a valuation from a garage. The Parkers Guide assumes that the car is in good condition but if there are scratches, patches of rust, etc. then this would reduce the value.
If you wanted to sell the car, buy another one for £2k and then provide any excess to the OR you could.
As kallis3 mentions check whether you are entitled to mobility allowance as you may be able to get a free car. |
| Niobe |
Posted - 23 September 2009 : 17:16:14
I couldn't find the car site when I clicked on the link!
The valuation does seem a little high, and the OR may wish you to sell that vehicle and buy a cheaper one.
Are you on Mobility Allowance? This might enable you to get a free car.
The glimmer gets brighter all the time
Jan
xx |
| charlie44 |
Posted - 23 September 2009 : 13:55:42
Hi Melanie thanks for the quick reply. Both of us are filing for BR.
I have had a look at the website you suggested and it is giving me a price of £4200, will this be classed as excessive? To be honest I did not think it would have been valued as high as that. |
| Melanie.n |
Posted - 23 September 2009 : 13:08:35
It all depends on the individuals circumstances - are both of you or just you filing for bankruptcy?
As the vehicle is used by both of you particularly with health issues this will be taken into account with the OR as to your keeping of the vehicle. It all depends on value have a look at www.parkers.com for an online valuation use the 'private poor' figure - this website is the one used by the OR for valuation purposes
Unless the vehicle is excessive in value i would not consider replacing it with a cheaper model - just put forward a valid arguement for keeping it
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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