I currently owe £15,000 and finding it difficult to make the repayments and live off the remainder. I am thinking of bankruptcy as an option. I currently rent, own a car (2003 Ka), a computer, a tv but not a lot else. My biggest fear is I will lose my car. Are there any agreements where I would be able to keep my car?
The car depends totally on the trade value - have a look at one of the online sites such as Parkers and look up the value. If the car is under £1500 you should not have a problem, if the value is more than that you may be requested to pay the difference is if £2k you may be asked for £500. But if the car is essential for you to travel to and from work you may get away with it- i know of clients of mine who have put up a good arguement to retain the vehicle and kept a vehicle of £8k in value as a reliable vehilce was required for travel to and from work
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
I currently owe £15,000 and finding it difficult
Posted - 02 July 2009 : 00:35:37
