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happyhousewife
Starting Member

United Kingdom
7 Posts
Posted - 31 August 2011 :  22:58:18  Show Profile  Reply with Quote
Hi
If my mum and dad were to buy me a car to use and it is in their name can it be taken if we go bankrupt?

happyhousewife

Niobe
Administrator



United Kingdom
4590 Posts
Posted - 01 September 2011 :  08:26:00  Show Profile  Reply with Quote
Hi,

If the car is in their name I would think it would be ok.

Hopefully one of the experts can confirm later.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx
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Skippy
forum expert



United Kingdom
3290 Posts
Posted - 01 September 2011 :  08:30:51  Show Profile  Reply with Quote
I agree with Jan, providing the car is paid for by them (and this can be proved) then there shouldn't be a problem.

View my blog at http://skippy13.blogs.iva.co.uk/

Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.

Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side.
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debtinfo
forum expert



2826 Posts
Posted - 01 September 2011 :  10:53:31  Show Profile  Reply with Quote
Of course you would need to make sure your insurance is filled out correctly
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