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debtrider
Junior Member
494 Posts |
 Posted - 27 November 2008 : 15:10:00
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Hi all
I spoke to the OR office today for the first time since my interview. On my SOA I put my car value down at £2200 and was hoping that it would be an excempt asset in my bankruptcy. The OR office told me today that their agent have valued my card at £2750.
So I would need to give them £750 if I wanted to keep the car, as they will only allow £2000. The thing is I disagree with the value put on the car and think it is too much. The Parkers guide says that my car is worth £2235 in poor condition.
Obviously I need to keep my car for my self employment, but I will dispute the price put on my car by the OR agent. and see if I can get it a little lower.
Has anyone else exeperienced a situtation where the OR has put a higher value on an asset than you think it is worth.
Debtrider
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 27 November 2008 : 15:14:07
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Hey debtrider
You fight for that, i would gather as much info as you can and arm yourself, at the end of the day you can disagree and your quite within your rights to do so.
Get all the paperwork you can and make sure that you keep copies, then post down a letter with those bits to them.
I say fight tooth and nail and you never know we may get a winner from you yet.
I will be fighting with you on this one.
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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gally
Junior Member
114 Posts |
Posted - 27 November 2008 : 15:50:21
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| i dont want to make a habit of this but year mileage and model of car i will value it as i sell cars for a living |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 27 November 2008 : 15:51:24
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Hey thats kind of you Gally.
Thanks for helping debtrider out. :-)
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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debtrider
Junior Member
494 Posts |
Posted - 27 November 2008 : 15:56:27
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Hello gally
Thanks for your help.
My car was registered on 01/03/2003
Ford focus estate CL 16V
Mileage 61000
The parkes guide values it at £2235 in poor condition.
Thanks again
Debtrider |
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gally
Junior Member
114 Posts |
Posted - 27 November 2008 : 16:13:34
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| i presume car is a 1.6 guide price £2300 for58k i think at auction lucky to get £1600, £1700 this time of year and credit crunch etc |
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debtrider
Junior Member
494 Posts |
Posted - 27 November 2008 : 16:22:18
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Thanks for that gally
I will certainly try and knock down the price the OR agent thinks it is worth. I do not know where he has got £2750 from.
Where is the best place to look and get a hard copy on the value of my car, to send it to this agent for the OR and argue my case.
Thank again for all you help gally
Debtrider |
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gally
Junior Member
114 Posts |
Posted - 27 November 2008 : 16:38:37
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| you can pay for a HPI report on internet which will give you book value and cap value but the car will be auctioned off and will be subject to a sellers fee / auction fee just go to a couple of local small dealers and ask them how much to buy the car for cash get this written on their co cards they will all value similar to my quote if they are prepared to buy it at all in this climate submitt these to your OR they understand when dealing in these matters everything is negotiable |
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huntersrishon
Junior Member
189 Posts |
Posted - 27 November 2008 : 21:09:49
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Hi Debtrider
We have the same problem. The OR's valuers have put ours at 3300!! Parkers, AA, and Glasses guide have valued it at between 2,350 and 2,700. I spoke to the OR assistant and he said their valuers are not perfect and to email and post the valuations we have and they will look at it again.
I would go to these websites get the print outs and send them through to the OR. Worst case scenario - it will cost them around 2% to sell your car so you would need to add that to the 2,000 they would give you back. 2% of 2,750 is 550 = 2,550 making the difference 200 pounds so you would have to pay 200 pounds. I have also been told by our OR that they need to make 500 clear profit otherwise they do not sell it as it is not worth it. (I dont know how true that is)
I hope this helps and makes sense.
Dee  |
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debtrider
Junior Member
494 Posts |
Posted - 27 November 2008 : 23:09:41
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Hi Dee
Thank you for telling me of your experience with your car.
If I and you can see that the figures are lower then these people are suggesting then where are they getting their figures from. I can only assume that they valuing my car at the top book price, which they would not get. Hope you negotiate a lower price and I will let you know how I get on with mine.
All the best
Debtrider |
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gally
Junior Member
114 Posts |
Posted - 28 November 2008 : 10:23:24
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| debtrider for the record 2% of £2750 is £55 |
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debtrider
Junior Member
494 Posts |
Posted - 28 November 2008 : 10:28:51
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I thought you had made a mistake there.
All the best
Debtrider |
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huntersrishon
Junior Member
189 Posts |
Posted - 28 November 2008 : 11:49:21
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Duhhhhhhhhhhh!!!!
I need to learn to count.
Sorry it had been a hard and long day at work.
Dee  |
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gally
Junior Member
114 Posts |
Posted - 28 November 2008 : 13:51:47
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for a free valuation go to
motors.co.uk (web site) register free of charge with them and they will give you a free valuation with only reg number and mileage hope this helps |
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debtrider
Junior Member
494 Posts |
Posted - 28 November 2008 : 14:08:07
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Thanks for your help gally
Debtrider |
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Topic |
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I think my car is over valued
