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antp
Junior Member
United Kingdom
216 Posts |
 Posted - 09 May 2008 : 18:23:20
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I have recently been declared bankrupt on 1st May, (27K). I have a telephone interview with the OR next week. I moved out of my council flat 2 years ago to save money and have lived in my van since then with the odd week at family and friends. As I still trade from the vehicle at car boot sales and country fairs, etc. I could expect to offer a good reason to the OR to keep my vehicle, a large van worth about £4500 book value. I do really expect to lose it but the pressure i've been under for the last few months this loss would be the least of my worries even though it's my home. I bought my original van on a 3 year loan in Feb 2005, I have not missed a payment since then (only repayment holidays) and the loan had 600 left on it. In October 2007 it was written off in a bad accident, after getting the insurance money I added a bit more money to get my current van. With trade flat things became too much and after 4 months of internal wrangling with myself I decided to get it over with and became bankrupt. I am just wondering what the the OR would do or what things I would need to stress at the interview. I've read that £2000 can be given to purchase another vehicle but 2k on a van would buy next to nothing, i travel countrywide.
Thanks in advance. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 09 May 2008 : 18:33:52
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Hi antp,
Welcome to the forum,
I would mention to the OR that by having the Van this saves your having to pay rent on a property therefore gives you more of a chance of earning enough of an income to survive.
You will have to list your income and expenditure, but it sounds like your car boot trading is your income therefore are you self employed?
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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antp
Junior Member
United Kingdom
216 Posts |
Posted - 09 May 2008 : 18:40:28
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Hi, thanks for the quick reply.
Yes, I have been self employed for 10 years doing all sorts of selling, markets, shows, car boot sales, ebay, web sites, etc. with retail being dead for the last 3 years the debt mounted up. I moved out to survive.
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