|
|
 |
 |
FORUM |
|
> Browse and post on our forum |
|
|
|
 |
|
 |
| Author |
 Topic  |
|
|
harv5
Starting Member
2 Posts |
 Posted - 15 March 2010 : 19:03:35
|
Hi, I need some help please.
I declared myself bankrupt a month ago and I have just had my interview with my OR, which I felt didn't go very well.
My problem is this, over a year ago I had to sell my car as I couldn't afford to run it. From then on my boyfriend kindly allowed me the use his car to go to work, only thing I pay for is fuel. Last year he decided to swap his old car (as getting unreliable)and brought a new one, which he still allows me to use. The car is 100% owned by him. The OR is now asking that I produce documents to show that he does own the car, for which I can do (at the permission of my boyfriend, of course) ie logbook, sales invoice, partex details. However they are asking for financial proof, ie finance agreement or bank statements. Thats' the problem, the money didn't come from one of his bank accounts, it was from money that he had squiralled away (due to his very messy divorce). It can be papertrailed eventually back to him, but through other accounts (my childrens accounts). My worries are 1) that the OR will not believe the money was his 2) it will come out that my boyfriend had been moving money to stop his wife getting her hands on it, which may cause him problems 3) the account the money was in, maybe questioned/taken into my bankruptcy (as there is still money in it) 4) they will take his car as being an asset.
If I had known I was going to go bankrupt I would never of used the childrens accounts to hold his money. How do I show the OR that the car is my boyfriends and that the money to pay for it was his money, without jeordising my childrens money?
My boyfriend is not too happy that just because he lends me his car that he is now being dragged into my bankruptcy. |
|
|
gettingoutofdebt
forum expert
2418 Posts |
Posted - 16 March 2010 : 06:51:30
|
The OR is asking for financial proof as the owner of the car isn't considered to the person with their details on the V5 document but the person who actually paid for the car. As the money has come out of your childrens' account this will look to the OR that the car was bought by you.
In order to prove that your boyfriend actually bought the car you will need to provide evidence that your boyfriend transferred money from his bank account to your childrens' bank account i.e. bank statements over a period of time that show that he deposited £xxxx into your account and then provide the receipt showing that the car cost £xxxx.
2) The OR will not be interested in this. They are there to investigate your finances and people moving money between accounts and different people when going through a messy divorce is not something new.
3) Wasn't this your childrens' account? Is this in your name or are you listed as a trustee? If so, then it should be declared to the OR as, in effect, it is your account until your children are 18.
4) If you cannot prove to the OR that your boyfriend bought the car and it is worth more than £2k or the OR doesn't believe you need a car for work then it will be taken. Be completely honest with the OR and provide them bank statements from your boyfriend showing he transferred the money into your childrens' account and that this money was used to pay for the car. Do not worry about your boyfriend moving money around in order to avoid his ex-wife knowing about it. |
 |
|
|
harv5
Starting Member
2 Posts |
Posted - 16 March 2010 : 13:16:17
|
In order to prove that your boyfriend actually bought the car you will need to provide evidence that your boyfriend transferred money from his bank account to your childrens' bank account i.e. bank statements over a period of time that show that he deposited £xxxx into your account and then provide the receipt showing that the car cost £xxxx.
His bank accounts only show 80% of the money transferred, as the rest was cash his sister was holding for him.
3) Wasn't this your childrens' account? Is this in your name or are you listed as a trustee? If so, then it should be declared to the OR as, in effect, it is your account until your children are 18.
The accounts were in the childrens names with me as trustee. I took advise before I went bankrupt and they said I didn't have to include these accounts. But the accounts are now in the childrens and grandparents name, as the grandparents were concerned the children would lose the money in the accounts. So I am no longer party to the accounts.
4) If you cannot prove to the OR that your boyfriend bought the car and it is worth more than £2k or the OR doesn't believe you need a car for work then it will be taken.
It is worth about 8k. Without the use of my boyfriends car, I wouldn't be able to get to work, as public transport is out of the question for where I commute to. Plus this would have a knock on effect as my childcare costs would more than double. If I didn't use this car I would have to get my own, which would then cost me more money monthly due to the running expenses. |
|
|
| |
Topic |
|
|
|
| bankruptcyhelp.org.uk Forum |
© bankruptcyhelp |
|
|
|
|
|
 |
|
|
|
|
|
Help please
