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 can we keep our cars ?? please help
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newbee
New Member



United Kingdom
94 Posts

Posted - 16 July 2009 :  20:13:46  Show Profile  Reply with Quote
hi guys firstly want to say how helpfull the site is.

me and my husband are thinking about going br the frist thing i was wondering if u guys can help me with is that me and my husband both have a car each .each one is worth about £3000 each we need two cars as he works nights and i travel all over the place for my job and most of the time am not back by the time he goes to work do u think we can keep both cars ?

if not my mum has offered to buy one of the cars off us for the br fees that we need will this be aloud with the OR ?





vdown

Edited by - newbee on 16 July 2009 20:43:42

debtinfo
forum expert



2826 Posts

Posted - 16 July 2009 :  20:46:21  Show Profile  Reply with Quote
You are each allowed 1 exempt vehicle as you each have a seperate vehicle. they must meet the criteria for for exemption though
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newbee
New Member



United Kingdom
94 Posts

Posted - 16 July 2009 :  20:49:17  Show Profile  Reply with Quote
hi thanks debtinfo do u no what the exemption is for each car ?thanks

vdown
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Reviva UK
Advanced Member

United Kingdom
2452 Posts

Posted - 16 July 2009 :  21:06:13  Show Profile  Reply with Quote
Hi

provided that you can justify the need for a car to get to work then the OR will allow a vehicle each.

However it needs to be around the £2000 mark. If it is greater in value then the OR will want the difference.

You are also able to sell the car / cars prior to Br provided they are sold at a true market value

In theory you could each down specc your cars providing you with sufficient funds for the court fees.

Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com

Real People ..... Real Debt Solutions
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