I have sold my car because I owed my mum money. I don't know where the car is now and obviously my mum does not have the money herself now, what happens if I don't declare my car in the bankruptcy? as I no longer have it?
You will need to write it on the form because the OR may well check to see if you have had any vehicles in the past via the DVLA and also they will need to know if you sold it under value and it would also be seen as preferential.
To not declare this would not be in your best interests.
Jo x
22 Weeks down
30 to go
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!
The OR's office will automatically do a DVLA check to see if you currently own a vehicle or have disposed of a vehicle in the last 2 years.
How much was the car sold for?
The issue here is that you have technically treated your mother as a preferential creditor over your other creditors and ( depending upon the value of the car) the OR may decide to ask your Mon for the money back
Paul Johns Assisted Bankruptcy Specialists Reviva UK
I have sold my car because I owed my mum money.
Posted - 05 January 2009 : 18:41:32
