Hi I am considering bankruptcy but one of my concerns is that I have a classic car in my garage that gave to my son 3 years ago on his 25th birthday. The car is registered to me as he has nowhere of his own to keep it. I thinks value would be of interest to the authorities. I don't want to be seen to 'hiding' it but I would also be very upset (as would my son)if they took it away because I can't prove it's his. Any advise would be much appreciated. Cheers Pete
If the car is of nominal value then a gift is not a problem. If however if your were is a financial challenge when you gave the car away AND it is of significant vale then there is likely to be a problem.
Really suggest you get some telephone advice on the matter.
Pau
Paul Johns Bankruptcy Specialists Reviva UK www.revivauk.com 08454 751 851
Advice about a classic car much appreciated
Posted - 02 April 2011 : 19:09:14
