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| T O P I C R E V I E W |
| kelly-v |
Posted - 23 October 2009 : 23:02:25
we had an appointment with the citizens advice bureau who said that we would definately get to keep our car as it is only worth £3000. however from reading posts on here im worried we will loose it. please could anyone help? |
| 3 L A T E S T R E P L I E S (Newest First) |
| qznhln1 |
Posted - 24 October 2009 : 22:51:36
Hi Kelly,
The OR let me keep my car, which was valued at around £2,500. I live in a rural area and definately need my car for work (and my wife also needs her car for getting the kids to school and shopping).
My OR said that, although, the rule is £2k she couldn't see the point of me selling as the possible £500 gain probably wouldn't have been achieved under a forced sale condition.
If you are doing relatively high mileage there is also a strong argument that you need a "reliable" car and you can probably justify having something more expensive. |
| Housing |
Posted - 24 October 2009 : 13:54:58
Hi Kelly,
As debtinfo has suggested - not that straightforward.
I had a car worth £10K on a personal loan with Black Horse. Was up to date until I included it in my BR - then stoppede paying as instructed.
I was told by the OR it would be sold by tender - it was - the firm that handled the sale have said I can buy a car up to £2K and they will pay by bankers draft and settle up with the OR after their commission - I am looking - but have not found anything yet - also feel a bit churlish as my wife has a car - when I get a job (soon??) I will look again - in the meantime I use Sues (when she lets me!)
I hope that you get the matter resolved, Richard
"There are no problems - only solutions..." |
| debtinfo |
Posted - 23 October 2009 : 23:21:46
Hi, nothing is as clear cut as that, the first thing that is considered is not value but need. A car may be exempted by the OR if it is needed for work or to meet a basic domestic need. The key point is the word need i.e the the OR will consider if there are other alternatives such as a bus route or walking if you live very close to work. Please be aware that this must be your need not a family members. If the car is considered as exemptable then value is considered. If car is worth more than £2,000 (varies from OR to OR) then the OR may sell the car and provide a cheaper alternative but the key thing is that if it is considered exemptable they will not leave you without a car, just maybe not the one you currently have. |
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