I'm currently getting my ducks in a row and preparing my petition/saving for fees. I have a question about my car-
I'm pretty sure I will be allowed a car, i drive around selling in my job, but it's on dodgy ground for its value, in that it is worth about £1800-2000, and I am told and have read that the IS are allowing £1000 as reasonable. However, I was doing some late night reading of the IS guidance manual and it says something about only selling a vehicle and releasing the £1000 to the bankrupt if at least £500 can be realised towards the bankrupt's estate, after the associated fees the OR would have to pay, and the £1000 given to me to buy a new car....so it looks like a borderline case!
Just wonder if anyone's had experience of borderline vehicle values or what the OR has to pay to have vehicles taken and sold etc.
Obviously if it is likely I'd lose the car I may as well sell it before BR and buy something for £1000 and hope it lasts until I'm discharged!
my car was also valued at £1000. After I spoke to the OR himself for my area I made an offer of £200 to the valueer. - the guy said " why don't we jsut call it a fiver" and I said " ok" - he laughed at me and said he'd call back. The OR ordered him to accept the £200. My car was not deemed as needed so I hope you can keep yours.
Cars - an old chestnut!
Posted - 10 September 2012 : 17:48:41
