if you're declaring bankruptcy and do not work it is extremely unlikely you will keep it I'm afraid. Perhaps if a close family member were not to be very mobile and relied on you for doctors / hospital / shopping you may have a chance, if it were worth a couple of hundred pounds. Other than that it will be claimed.
What if my wife sold it to a family member (for the going rate) and then kept the money towards a rental deposit? She is moving back into her mums for a bit and will pay rent to her before looking for her won rental place.
HI I am in the same situation and have been told im gonna have to come up with a good reason to keep the car its only worth 800 but if the OR takes it off me my chances of finding work go from slim to even slimmer. Its a vicous circle if the OR takes the car and i get a job how do i afford another car.
that's perfectly ok as long as she pays the deposit before BR. She should also ensure a paper trail exists for the transfer of monies from the buyers account to hers.
That way the car may continue to be registered in her name and insured and driven by her too.Just ownership will be with the family member (purchaser).
Any1 with a car not needed for work,manage to keep
Posted - 21 January 2009 : 20:12:28
