Hi My husband went bankrupt on 5th may 09 due to a failed business he is a partner in. The official reciever has valued his car at £7000 without seeing it because its and audi he is going to take it next week and leave my husband without transport to get to work? i have spoken to the OR but he doesn't care and is taking it to auction. The car won't make £7000 as auction due to the scratchs and poor interior. (he's a builder) i own a car valued around £4500 would it be possible to offer the OR mine so my husband can keep his audi for his work? only problem is mine is registered in my hubby's name but it is mine and has my disability tax on it? (will didn't tell them about this one) please help
Hello... I am no expert but based from what I read in the forum, any car that is valued at more than 2K is going to be ceased by the OR to make some payments to your creditors... and if am not mistaken the OR will give you back 2K from the sale to buy another car if it is really needed for work. Like I said, am not sure so hopefully an expert can help you.
The OR is only dealing with your husband's debts/creditors so it is his property that she will want. If the car is valued at more than £2k then the OR will want it even if it doesn't make this much at auction.
After selling the car the OR will give your husband £2k to purchase a new car for work.
You need to be careful about the other car that is registered in your husband's name. I am not sure if the OR checks with the DVLA for any vehicles registered to the person that is BR but if they do you could be in trouble.
Hi My husband went bankrupt on 5th may 09 please help
Posted - 17 June 2009 : 21:53:00
