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b3n
Starting Member
2 Posts |
 Posted - 06 July 2009 : 22:34:10
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| With bankruptcy, I'm the registered keeper of my car but my mother paid for it, will they take the car? |
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debtinfo
forum expert
2826 Posts |
Posted - 06 July 2009 : 23:04:03
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| There are two things to think about. The registered keeper is not always the owner of the car. The OR may only take your assets. If it is determined that it is your car (ie it was gifted to you by your mother)then their are certain exemptions dependding on your own circumstances. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 06 July 2009 : 23:04:44
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Hi,
If the car is worth less than about £2500 and you need it for work, then I think you will be ok.
The glimmer gets brighter all the time
Jan
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xmas baby
Average Member
537 Posts |
Posted - 07 July 2009 : 10:35:15
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My car is worth about £500 and I don't need it for work but I was allowed to keep it for a fee of £100.
xmas baby |
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b3n
Starting Member
2 Posts |
Posted - 07 July 2009 : 11:39:56
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quote:
Originally posted by xmas baby
My car is worth about £500 and I don't need it for work but I was allowed to keep it for a fee of £100.
xmas baby
I think it will be a problem since the car is worth £7000 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 07 July 2009 : 12:13:41
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If you can prove that your mother owns the car, and you just use it, then you would be ok.
Otherwise you would be expected to sell it and buy a little run around and the rest of the money would go to the OR.
The glimmer gets brighter all the time
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 07 July 2009 : 12:16:39
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Providing you can prove that your mother paid for the car and you haven't paid her back then you should be able to keep the car as it's not technically yours.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
24 IPA payments made, 12 to go - on the home straight! |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 07 July 2009 : 13:39:11
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I seem to remember Melanie.n saying that she knew someone who had successfully kept a car worth £8k or so as they needed a reliable car for work so presumably they travelled a lot so the value may not be the problem.
If your mother has receipts/statements showing she paid for the car then you should be ok.
Have a look at http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part2/part1/part1.htm, which is the OR's Technical Manual dealing with car ownership:
"A vehicle registration document showing the name of the insolvent is not proof of ownership only proof that the insolvent is the registered keeper of the vehicle. This is however usually a good indication of ownership. In cases of doubt additional evidence of ownership should be obtained from the insolvent and interested third parties regarding the source of the funds which paid for the vehicle or any contract under which the vehicle was purchased. " |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 07 July 2009 : 14:54:28
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Hi
if the receipt for the purchase was made out to your mother ( and there are no further transfer of ownership documents since ) then she is the owner and allows you to use it ( thus you are the registered keeper).
If the receipt is made out to you, or the money was transfered to you first so that you can buy the car then I believe the Official Receiver will view the car as a gift, or the money as a gift.
If this is the case you would do better downsizing before bankruptcy to a suitable car ( around £2k) and using some of the balance for court fees etc.
Incidentally what is the level of debt as there may be ways to negotiate with some of the creditors?
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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will they take the car?
