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Loopylou
Starting Member
12 Posts |
 Posted - 15 April 2009 : 22:17:50
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Hi I have some more questions.
My husband and I are currently saving for BR fees. We have stopped all payments to creditors.
1. How long do we have to save for these fees? At the moment we are getting constat phone calls , which we are ignoring and we have now started to get a few Default Notices. What is the next step the creidtors will take?
2. We have one family car Freelander 7 years old worth about 4K. My husband works nights at a farm so needs car to get to work as no public transport. Also he sometimes uses car to go to the fruit & veg market in the night to collect top up orders which cannot fit on the farm van and lorry, so again he needs car for this.
3. We have 2 children and my husband has a daughther by previous relationship. Every 2 weeks he has a 4 hour round trip to get her and then the same to take her home again. When she is with us there are 5 of us which need to fit in the one car. Will we b made to sell the car as it is over 2.5K?? We need it for work and family use and a smaller car will not really suffice as we wont all fit in it!
3. We have a time share (which we have been trying to sell unsuccessfully for the past few years) now I am aware the OR will more than likely take this , which to b honest I am not too unhappy about. But we are booked and paid to use this at the end of August. If we declare BR before we go, which we would like to do, wil the OR stop us form going??
Thank in advance for any responses. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 15 April 2009 : 22:26:26
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Hi
regarding the car if the 4k is the real value then this would definately be collected by the official receiver after bankruptcy and hopefully you would get an amount to purchase a cheaper car with ( about 2k)
There is another poster on the forum now that has had a similar experience.
The important thing to remember is that today you are not Br so I would strongly suggest you sort the car out BEFORE going Br.
If the car is worth 4k, you can legitimately sell this, but a 2k car and have the court fees as well. The balance could then be passed to the OR.
you will have much more control this way round and have more choice for the replacement car because you have time.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com |
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focus320
Starting Member
27 Posts |
Posted - 15 April 2009 : 23:04:24
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Without wishing to give any faults hope – we declared Bankruptcy in Dec 08 and at the time had a fully paid for car worth around £4,600. We explained to the OR that we needed a car that could cover 40,000 miles per year and could cope with some off road driving and without a car of this type we’d jeopardise earning potential.
After a small amount of discussion he allowed us to keep the car. The only trouble is that you can’t discuss this things with an OR ahead of Bankruptcy and you may get a nice OR like ours or a rule book OR that will want you to sell your car. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 15 April 2009 : 23:17:25
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There are certainly occasions when we hear of exceptions and they are very welcome.
However I really believe in having everything organised and fully transparent Before Br because there are never any second attempts at getting it right.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com |
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Loopylou
Starting Member
12 Posts |
Posted - 16 April 2009 : 08:29:23
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Thanks for above advice.
How long b4 creditors escalate attempts to get money and what exactly are the next steps they will take??
And also time share will be still b able to go this year as booked and paid for?
Thanks
What about the timeshare/holiday
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Loopylou
Starting Member
12 Posts |
Posted - 16 April 2009 : 08:48:31
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What court were you with Focus320 ?
I am raking my brains as to what car for 2K will fit 5 people and a buggy and be able to cope with 2 x 4 hour round trips every 2 weeks without breaking down. And also have the capacity to carry fruit and veg in a least twice a week!! I dont fancy breaking down on M3 with 3 kids in the car!
ANy suggestions would be greatly appreciated |
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Loopylou
Starting Member
12 Posts |
Posted - 16 April 2009 : 11:13:33
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Sorry me again!
I have just been onto a few dealers with regard getting a price for the car they are all quoting me around £2500.00!! They are telling me thatI would probably get a bit more privately but in the current climate this could take a good while.
How do the OR get their valutaion I presume that if the bailiffs come and take on behalf of OR then car would be sold at auction in which case they will only get around £2500.00???
Also I have read on here that you are allowed a car of value upto £2500 not £2000
I would really appreciate clarification on this point
I am really confused now as to what to do |
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focus320
Starting Member
27 Posts |
Posted - 16 April 2009 : 11:18:23
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Morning Loopylou
We went BR at Bristol Court and I have to say they were great to deal with. The meeting with the OR took about 2.30 hrs and although he was firm and very matter of fact, he didn't make us feel small or stupid. We went into the meeting with all the information and paperwork he would need in order and clearly labelled. To be honest we didn't realise our car would an issue until he told us it was more expensive than he would like us to have. After some discussion he ended up happy for us to keep it, however I do now understand we were maybe very lucky here.
Our BR was caused because we were conned out of large amount of savings and equity by my in-laws (yes in-laws!), they then skipped the Country and are now living in somewhere in Spain - this happened 4 years ago and we have long since given up trying to track them down. Shortly after that happened I was diagnosed with cancer at the age of 31 and financially things went from bad to worst. We struggled on for another 3 years before deciding BR was going to be the only option to sort our life out. Whether the OR was more sympathetic towards us I don't know. However knowing what I now know about OR's work, I thing I would have sorted a cheaper car before going BR and not gone in as blind as we did !
Life is funny isn't it - I spent my 30th Birthday on holiday in the Maldives with plenty of cash in the bank and a lovely home and not one penny of debt (apart from Mortgage), 5 years later we've lost the house and are now in rented, have no money in the bank and the only thing we still have left from our 'old life' is the car we brought for cash 6 years ago !
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memphisd56
Junior Member
United Kingdom
112 Posts |
Posted - 16 April 2009 : 12:09:11
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| Don`t assume that because your car is worth under £2500, you will be allowed to keep it!!....This depends on the O.R. I was quized as to why i needed my car which is only worth £500, and a friend was asked why he needed his old car which is also worth around £500!!!. I quoted that i needed mine for medical reasons, and his reason was that he lives miles away from a bus stop. This is a grey area. |
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Loopylou
Starting Member
12 Posts |
Posted - 16 April 2009 : 12:51:58
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I have 2 children 1 and 4 that need taking to schooland nursery I have a step daughther that lives 70 milesaway and needs collecting and taking back home every fortnight and my husband work nights at a farm to which it is impossible to get without a car as there are no public transport links
Surely the above is reason for owning/needing a car??!! |
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memphisd56
Junior Member
United Kingdom
112 Posts |
Posted - 16 April 2009 : 13:07:22
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| Yes....Based on my experience, just under a month ago...i think you will be alright on keeping ownership of a car....the `grey area` is what is the maximum value??. I can only guess, that if your car is under £2500, AND you need to keep it, then you will be allowed, but unless you car is worth peanuts, and if you don`t really need it...the O.R, will take it. It always seems to be stated on here that if a persons car is under £2500, the O.R will not have an interest in it...the exception seems to be that if you don`t REALLY show a need for your car, it COULD be taken, even if it`s worth less than £2500. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 16 April 2009 : 17:56:23
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There is one poster on here who, even though she needs the car to visit her father who is in a home and needs it to look for, and then get to work, she was told that she would have to make an offer on it to keep it and the car isn't worth much at all.
The glimmer gets brighter all the time
Jan
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Hi I have some more questions.My husband and I
